July 29, 2020
Total Freight Costs Decline
Results published today by the Canadian General Freight Index (CGFI) indicate that the Total Cost of ground transportation for Canadian Shippers decreased by 1.62% in May, as compared with April results.
The Base Rate Index, which excludes the impact of Accessorial Charges assessed by carriers, increased by 0.38% in May.
Average Fuel Surcharges assessed by Carriers decreased this month. Fuel was 10.47% of Base Rates in May versus 12.63% in April.
“Total Freight Costs decreased by 1.62% from last month driven by a decrease in fuel charges. This is the largest month over month decrease since September 2017. Base Freight costs increased by 0.38%. Total freight costs declined in all sectors except Cross Border LTL. Year over year, Cross Border LTL remains significantly above last years level. Domestic LTL is above last year’s level while Total Domestic and Cross Border LTL is 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.