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Rail News: Rail Industry Trends
1/31/2008
Rail News: Rail Industry Trends
CSXI, UP to reduce fuel surcharges in February
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CSX Intermodal's fuel surcharge is heading down for the second-straight month. On Monday, the company will implement a February surcharge of 26 percent.
CSXI previously applied a 27 percent surcharge in January, 28.5 percent surcharge in December, 24.5 percent surcharge in November and 23 percent surcharge in October. The drayage-only fuel surcharge for February will be 33 percent.
CSXI adjusts its 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, Jan. 28) 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 Jan. 28, the DOE reported a diesel retail price of $3.26 per gallon.
If the U.S. National Average Fuel Index equals or exceeds $2.79 per gallon, CSXI increases its fuel surcharge 0.5 percent for every four-cent increase in the fuel price.
Meanwhile, Union Pacific Railroad's carload rate-based fuel surcharge will drop from 21.5 percent in January to 21 percent in February. The Class I's rate-based standard Highway Diesel Fuel surcharge program is based on the DOE's U.S. average on-highway diesel fuel price.
CSXI previously applied a 27 percent surcharge in January, 28.5 percent surcharge in December, 24.5 percent surcharge in November and 23 percent surcharge in October. The drayage-only fuel surcharge for February will be 33 percent.
CSXI adjusts its 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, Jan. 28) 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 Jan. 28, the DOE reported a diesel retail price of $3.26 per gallon.
If the U.S. National Average Fuel Index equals or exceeds $2.79 per gallon, CSXI increases its fuel surcharge 0.5 percent for every four-cent increase in the fuel price.
Meanwhile, Union Pacific Railroad's carload rate-based fuel surcharge will drop from 21.5 percent in January to 21 percent in February. The Class I's rate-based standard Highway Diesel Fuel surcharge program is based on the DOE's U.S. average on-highway diesel fuel price.
