June 24, 2020
Total Freight Costs Decline Driven by Lower Fuel Costs
Results published today by the Canadian General Freight Index (CGFI) indicate that the Total Cost of ground transportation for Canadian Shippers decreased by 0.96% in April, as compared with March results.
The Base Rate Index, which excludes the impact of Accessorial Charges assessed by carriers, increased by 0.45% in April.
Average Fuel Surcharges assessed by Carriers decreased this month. Fuel was 12.63% of Base Rates in April versus 15.48% in March.
“Total Freight Costs decreased by 0.96% from last month driven by a decrease in fuel charges. Base Freight costs increased by 0.45%. Total freight costs declined in all sectors except Cross Border LTL. Year over year, Cross Border LTL remains well 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.