Fuel Surcharges Increase For 8Th Consecutive Month
July 27th, 2011 - Results published today by the Canadian General Freight Index (CGFI) indicate that the cost of ground transportation for Canadian Shippers increased in May when compared to April due to increases in both Base Rates and Fuel Surcharges assessed by carriers.
The CGFI Total Freight Cost Index rose by 0.8% in May when compared to April, its 3rd consecutive monthly increase. The Base Rate Index, which excludes the impact of Fuel Surcharges assessed by carriers, increased 0.4% during the same period. In addition, average fuel surcharges assessed by carriers increased from 19.9% of Base Rates to 20.3%.
Of note is that fuel surcharges increased for the 8th consecutive month, and have reached their highest point since November 2008.
"In May we saw the second successive month of increases in Base Rates," commented Doug Payne, President & COO, Nulogx. "When added to the increase in Fuel Surcharges, this has a notable effect on ground transportation costs for Canadian shippers," continued Payne.
For full details on the CGFI please visit: www.cgfi.ca
About the CGFI
The CGFI is sponsored by Nulogx a leading Transportation Management Solutions provider, and is used by shippers and carriers to benchmark performance, develop business plans, and secure competitive agreements. It was developed with the assistance of Dr. Alan Saipe. The most recent results are available at the CGFI website: www.cgfi.ca