September 30, 2020
Total Freight Costs Decrease 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 1.3% in July, as compared with June results.
The Base Rate Index, which excludes the impact of Accessorial Charges assessed by carriers, increased by 0.2% in July.
Average Fuel Surcharges assessed by Carriers increased this month. Fuel was 10.61% of Base Rates in July versus 9.89% in June. However, the rolling 4-month average showed a drop from 12.12% to 10.9%, thus producing the overall CGFI decrease.
“Total Freight Costs decreased by 1.3% from last month driven by volatility in fuel charges. Base Freight costs marginally increased by 0.16 %. Total freight costs declined in Domestic LTL, Domestic Truckload & Cross Border Truckload sectors, while Cross Border LTL showed an increase. Year over year, Cross Border LTL remains significantly above last year’s level, however, all other sectors 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.