Starting July 1, FedEx (NYSE:FDX) will raise the shipping rates for its freight division by an average of 4.5% in the U.S., Canada, and Mexico, as well as shipments between the U.S. and Canada and the U.S. and Mexico.
The increases will also apply to shipments to Alaska, Hawaii, Puerto Rico, and the U.S. Virgin Islands.
The rate change for FedEx Freight applies to shipments covered by its FXF 1000, FXF 501, and other related series base rates. It also includes "absolute minimum charges" and "accessorial rates and charges." FedEx says its freight fuel surcharge will remain unchanged and maintains the rate is one of the lowest in the less-than truckload, or LTL, industry. FedEx says the published fuel surcharge rates of the next six-largest LTL carriers are at least 29% higher than FedEx's fuel surcharge rates, based on the average national price of diesel fuel as of May 27.
FedEx previously increased shipping rates for its Express and Ground services effective Jan. 7.
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