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Results published today by the Canadian General Freight Index (CGFI) indicate that the cost of ground transportation for Canadian shippers increased slightly in March when compared to February due to increases in fuel surcharges assessed by carriers.
The CGFI Total Freight Cost Index rose by .4 percent in March when compared to February, while the Base Rate Index, which excludes the impact of fuel surcharges assessed by carriers, decreased .7 percent during the same period. Offsetting the decrease in base rates was a significant increase in average fuel surcharges, which rose from 17.4 percent to 18.8 percent of base rates.
Fuel surcharges increased for the 6th consecutive month, and reached their highest point in more than 2 years.
"Increasing fuel prices continue to be the major factor affecting transportation costs", said Doug Payne, president and chief operating officer at Nulogx, a transportation management solutions provider that sponsors the index."While base rates are relatively stable to declining, increasing fuel prices are starting to have a real impact on shipping costs."
For full details on the CGFI please visit www.cgfi.ca.
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