AAA Daily Fuel Gauge Report for Friday, 3/9/18

FedEx Express, FedEx Ground and FedEx Freight will increase shipping rates beginning January 4, 2021. These rate changes enable FedEx to continue investing in service enhancement, fleet maintenance, technology innovations and other areas to serve customers more effectively and efficiently. FedEx Express shipping rates will increase by an average of 4.9% for U.S. domestic, U.S. export and U.S. import services. FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 4.9%. FedEx SmartPost shipping rates will also increase. FedEx Freight shipping rates will increase by an average of 4.9% for customers who use FXF PZONE and FXF EZONE, and by 5.9% for customers who use FXF 1000 and FXF 501 for shipments within the U.S. (including Alaska, Hawaii, Puerto Rico and the U.S. Virgin Islands) and between the contiguous U.S. and Canada. FedEx Freight shipping rates will also increase for shipments within Canada, within Mexico, and between the contiguous U.S. and Mexico. Details of all changes to rates, surcharges and fees are available on the FedEx website at: http://fedex.com/rates2021.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 0.6% in January after increasing 0.9% in December. In January, the index equaled 115.5 (2015=100) compared with 114.9 in December. ATA recently revised the seasonally adjusted index back five years as part of its annual revision. “January’s gain was the sixth straight totaling 4.4%,” said ATA Chief Economist Bob Costello. “The index, which is dominated by contract freight with only small amounts of spot market truck freight, is off 3.9% from the all-time high in August 2019 and only 1.5% below March 2020 when the pandemic hit. In January, truck tonnage was helped by rising retail sales and factory output. While housing starts fell last month, which is another important driver of truck tonnage, it remained at high levels.”

The American Trucking Associations welcomed two major new federal investments by the U.S. Department of Transportation that will add nearly 400 truck parking spaces along key freight corridors in Wyoming and Iowa. “These projects in Wyoming and Iowa continue the momentum to alleviate the severe, nationwide shortage of truck parking, which consistently ranks as one of drivers’ top concerns,” said ATA President and CEO Chris Spear. “We are grateful that Secretary Buttigieg has continued to make Bipartisan Infrastructure Law funding available to expand truck parking, and we applaud Wyoming and Iowa for prioritizing these projects in their transportation planning. More states should step up and follow their example to improve the efficient movement of freight and enhance roadway safety for all motorists.”