May 31, 2023
Total Freight Costs Decrease in March
Results published today by the Canadian General Freight Index (CGFI) indicate that the Total Cost of ground transportation for Canadian Shippers decreased by 1.17% in March, as compared with February.
The Base Rate Index, which excludes the impact of Accessorial Charges assessed by carriers, decreased by 0.65% also in March.
Average Fuel Surcharges assessed by Carriers decreased in March. Fuel was 27.74% of Base Rates in March versus 29.27% in February. Last year in March, the Average Fuel Surcharge was 25.84%.
“Total Freight Costs decreased by 1.17% in March. Domestic Truckload increased slightly while Domestic LTL, Cross Border LTL and Cross Border Truckload decreased. Overall, year over year Total Freight Costs (Domestic LTL and Domestic Truckload, Cross Border LTL & Cross Border Truckload) continue to be above last year’s level, however the year over year gap continues to decrease,” 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.