Lots of TL action pushes freight rates upward
TORONTO–Strong results in the domestic truckload market drove freight prices upward in March, according to the logistic experts at Nulogx. Results published today in Nulogx’s Canadian General Freight Index (CGFI) show that cost of ground freight rose 1.2% between February and March.
The Base Rate Index, which excludes the impact of accessorial charges assessed by carriers, increased by 0.5% in March.
Average fuel surcharges assessed by carriers decreased this month. Fuel was 14.69% of base rates in March versus 14.80% in February.
“Total freight costs increased, driven by strong increases in the domestic truckload costs. Cross-border and domestic LTL costs decreased while cross-border truckload had a marginal increase. This is the third straight month that total costs have increased driven by the truckload costs,” said Doug Payne, President & COO, Nulogx.”
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