Fuel surcharges for international air express shipments have increased in Europe, USA and Asiain March reflecting higher oil prices following stagnating rates last month, CEP-Research analysis
shows.In Europe, all four integrators UPS, DHL, TNT and FedEx raised their surcharges this month.FedEx and DHL rates went up from 17% in February to 17.5% in March. UPS and TNT also increasedtheir European surcharge to 16.5% from 15.5% and to 20.5% from 20% respectively.
In the USA, FedEx and DHL both raised their surcharges from the February level of 10% to 11% inMarch while UPS surcharge rose to 11.5% in March from 10.5% last month.
In Asia Pacific, the DHL surcharge increased to 23.5% this month from 22.5% in February. The UPSsurcharge for March also rose 1% to 18.5% from 17.5% in February. FedEx raised its Asian surchargefrom the February level of 18.5% to 19.5% in March, while TNT put up its surcharge for AsiaPacific, Middle East and Africa from 19.5% in February to 20% in March.
In February, all four integrators kept their surcharges in Europe, USA and Asia unchanged exceptfor UPS in the USA and TNT in its Asia Pacific/MEA region who reduced their surcharges.
The air express fuel surcharges for March 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 fell today after stronger jobs growth in the USA sparked speculation of an earlierend to the Federal Reserve’s loose monetary policy. Brent crude oil futures in London were down 76cents to $110.09 a barrel in the morning while WTI crude oil on the New York Mercantile Exchangedropped 32 cents to $91.63 a barrel.
Recent gains by the dollar against the Japanese yen and the euro also put pressure on oilprices. A stronger dollar makes oil a less attractive investment for traders using those othercurrencies, since oil is traded in dollars.
Since mid-December last year, when WTI traded at near $86 a barrel, oil prices had risensteadily on hopes for an improving global economy.
