Fuel surcharges for international air express shipments have increased in October following theupward trend in September due to rising oil prices, CEP-Research analysis shows.
The higher surcharges for September and October reflect the upturn in oil prices that started inlate June and continued through July and August.
In Europe, DHL and FedEx both increased their surcharges for October to 18% from 17% inSeptember while TNT Express’s European surcharge has risen to 20.5% for the 30 September – 3November period from 19.5% last month. Its separate UK surcharge went up from 13% to 14%. UPS’ssurcharge rose to 17% in October from 15% in September.
In the USA, FedEx, UPS and DHL all raised their surcharges, from 11.5% in September to 13.5% forthis month.
In Asia Pacific, DHL, which has the highest level, raised its surcharge from 22.5% in Septemberto 24% for October while TNT Express’s surcharge for Asia Pacific, Middle East and Africa rose to20% from 19% this month. UPS has increased its Asia surcharge to 21% for October from 19% inSeptember while FedEx’s surcharge increased to 18% for this month from 16% in September.
The air express fuel surcharges for October reflect the oil price level two months ago. The fourintegrators calculate their surcharges based on indices showing the previous month’s oil pricelevel and announce them in advance for the following month. This results in a two-month time lagbetween the fuel price and surcharge change.
Oil prices rose this morning after violence in Lebanon sparked fears of wider unrest in theMiddle East. Brent crude oil futures in London were up at $110.73 a barrel this morning. On the NewYork Mercantile Exchange, oil was also up to $90.68 per barrel.
