TORONTO, Ont. — Base rates and fuel surcharges both increased in April, according to the latest Canadian General Freight Index published by Nulogx.
The index rose 1.7% in April when compared to March, marking the largest one-month gain since July 2010. The base rate rose 1.1% while the fuel surcharge climbed from 18.8% of the base rate to 19.9%, contributing significantly to the rise in freight costs.
Nulogx noted April marked the seventh straight month of fuel surcharge increases, which have now reached their highest point since November 2008.
“Lately, increasing fuel prices have been the major factor affecting transportation costs,” said Doug Payne, president and COO of Nulogx. “However in April we saw a notable increase in Ttuckload base rates begin to contribute to this rise in freight costs.”
For more on the index, visit www.cgfi.ca.
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