September 27, 2023
Total Freight Costs Continue to Decline in July
Results published today by the Canadian General Freight Index (CGFI) indicate that the Total Cost of ground transportation for Canadian Shippers decreased by 1.41% in July, as compared with June.
The Base Rate Index, which excludes the impact of Accessorial Charges assessed by carriers, decreased by 0.15% also in July.
Average Fuel Surcharges assessed by Carriers increased in July. Fuel was 23.80% of Base Rates in July versus 21.90% in June. Last year in July, the Average Fuel Surcharge was 32.77%.
“Total Freight Costs decreased by 1.41% in July. All segments (Domestic LTL, Domestic Truckload, Cross Border LTL, and Cross Border Truckload) decreased. Year over year, Total Freight Costs for Domestic LTL, Domestic Truckload, Cross Border LTL, and Cross Border Truckload dropped below last year’s levels,” 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.