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Rail News: Intermodal

CSXI to pump up May fuel surcharge to 14 percent


CSX Intermodal’s monthly fuel surcharge is about to go up for the third-straight month. On Monday, CSXI will implement a May surcharge of 14 percent, a 0.5 percentage point increase compared with April’s 13.5 percent surcharge.

CSXI’s surcharge rose 2 percentage points in April and 1.5 percentage points in March after holding steady at 10 percent in February, January and December. The company previously implemented surcharges of 11.5 percent and 13 percent in November and October 2004, respectively.

CSXI adjusts its monthly surcharge the first Monday of each month based on the difference between the U.S. Department of Energy's (DOE) price index the previous Monday (in this case, April 25) and $1.10. CSXI calculates the percent difference between the DOE's "Retail Diesel Fuel Price Index" and $1.10, multiplies the figure by 10 percent and then again by 100. On April 25, the DOE reported a diesel retail price of $2.29 per gallon.

If the U.S. National Average Fuel Index equals or exceeds $2.79 per gallon, the fuel surcharge will increase 0.5 percent for every four-cent increase in fuel price.

The 14 percent surcharge applies to CSXI's ramp-to-ramp, ramp-to-door, door-to-ramp and door-to-door rates. The drayage-only fuel surcharge for May will be 18 percent.

Contact Progressive Railroading editorial staff.

More News from 4/26/2005