April 25, 2024
Total Freight Costs Decrease in February
Results published today by the Canadian General Freight Index (CGFI) indicate that the Total Cost of ground transportation for Canadian Shippers decreased by 1.25% in February, as compared with January.
The Base Rate Index, which excludes the impact of Accessorial Charges assessed by carriers, decreased by 1.06% in January.
Average Fuel Surcharges assessed by Carriers increased in February. Fuel was 25.85% of Base Rates in February versus 25.54% in January. Last year in February, the Average Fuel Surcharge was 29.27%.
“Total Freight Costs decreased by 1.25% in February. Total Domestic LTL increased, while Total Domestic Truckload, Total Cross Border LTL and Total Cross Border Truckload decreased. Year over year, Total Domestic LTL remains above last year while, Total Domestic Truckload, Total Cross Border TL & Total Cross Border LTL, segments remain below the costs for the same period 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.