TORONTO, Ont. – The total cost of ground transportation for Canadian shippers increased by 2.2% from January to February according to results published today by the Canadian General Freight Index (CGFI).
In addition, the base rate index increased by 2.6% during the same period, while average fuel surcharges assessed by carriers decreased. Fuel was 16.02% of base rates in February versus 17.22% in January.
“Total freight costs continue to rise driven by truckload activity in February, despite decreasing fuel costs,” said Doug Payne, president and COO, Nulogx. “Once again cross border and domestic LTL total costs slid in February, but were out-weighed by the domestic and cross-border TL increases. Cross border truckload base rates are 18.5 % higher than a year ago, while LTL rates – both domestic and cross-border – are more than 10% below. Domestic truckload rates are very near the level of a year ago.”
For full details on the CGFI please visit, www.cgfi.ca.