FedEx Ground announced that it will lower its current 1.25 percent fuel surcharge to 0.75 percent effective Jan. 7, 2002.
The company also will begin using an indexed method to calculate the fuel surcharge beginning Feb. 4, 2002.
The new dynamic fuel surcharge will be subject to adjustment monthly based on a rounded average of the national U.S. on-highway average price for a gallon of diesel fuel as published monthly by the U.S. Department of Energy. Changes to the FedEx Ground fuel surcharge, calculated according to the rounded index average and FedEx Ground trigger points, will be applied the first Monday of every month based on the average price of diesel fuel from two months prior. For example, on Feb. 4, 2002, the surcharge will be based on December's average diesel fuel price. The FedEx Ground trigger points may change from time to time, but information on the fuel surcharge for each month will be available to customers at fedex.com at least two weeks prior to taking effect.
"This method will more closely link the fuel surcharge to prevailing market prices for diesel fuel," said Daniel J. Sullivan, president and chief executive officer of FedEx Ground.
The company also will begin using an indexed method to calculate the fuel surcharge beginning Feb. 4, 2002.
The new dynamic fuel surcharge will be subject to adjustment monthly based on a rounded average of the national U.S. on-highway average price for a gallon of diesel fuel as published monthly by the U.S. Department of Energy. Changes to the FedEx Ground fuel surcharge, calculated according to the rounded index average and FedEx Ground trigger points, will be applied the first Monday of every month based on the average price of diesel fuel from two months prior. For example, on Feb. 4, 2002, the surcharge will be based on December's average diesel fuel price. The FedEx Ground trigger points may change from time to time, but information on the fuel surcharge for each month will be available to customers at fedex.com at least two weeks prior to taking effect.
"This method will more closely link the fuel surcharge to prevailing market prices for diesel fuel," said Daniel J. Sullivan, president and chief executive officer of FedEx Ground.
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