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Rail News: Mechanical

CSXI's monthly fuel surcharge to increase for fourth time in 2005


CSX Intermodal’s monthly fuel surcharge is back on the rise after a one-month drop. On Monday, CSXI will implement a July fuel surcharge of 14.5 percent compared with June’s 12.5 percent surcharge.

CSXI’s surcharge previously rose 0.5, 2 and 1.5 percentage points in May, April and March, respectively, after holding steady at 10 percent in February, January and December.

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, June 27) 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 June 27, the DOE reported a diesel retail price of $2.33 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 14.5 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 July will be 19 percent.

Contact Progressive Railroading editorial staff.

More News from 6/28/2005