August 26, 2020
Fuel Surcharges Drive Decline in Total Freight Costs
Results published today by the Canadian General Freight Index (CGFI) indicate that the Total Cost of ground transportation for Canadian Shippers decreased by 2.2% in June, as compared with May results.
The Base Rate Index, which excludes the impact of Accessorial Charges assessed by carriers, increased by 0.09% in June.
Average Fuel Surcharges assessed by Carriers decreased this month. Fuel was 9.89% of Base Rates in June versus 10.47% in May.
“Total Freight Costs decreased by 2.2% from last month driven by a decrease in fuel charges. Base Freight Costs marginally increased by 0.09%. Total Freight Costs declined in all 4 sectors (Domestic LTL, Domestic Truckload, Cross Border LTL & Cross Border Truckload). Year over year, Cross Border LTL remains significantly above last year’s level, Domestic LTL is comparable to last year’s level while Total Domestic and Cross Border LTL are below last year,” said Doug Payne, President & COO, Nulogx.
Click on the charts for larger images.
Overall – Total Freight Costs
This chart depicts only General Freight shipments and includes all accessorial and fuel surcharges.
It excludes specialty freight services, rail, air, ocean and courier shipments. Freight services paid in US currency have been translated into Canadian dollars based on the exchange rate applicable on the shipment date.