US truckers eye rate hike as shippers save on cheaper oil

Dallas

AS shippers of everything from toys to tools enjoy as much as US$24 billion in savings from lower diesel surcharges next year, trucking companies see an opening to raise freight rates at a pace not seen in about a decade.

The American Trucking Association calculates that each one cent drop spurs industrywide annual fuel savings of US$350 million. Diesel last week averaged US$2.15 a gallon, down from US$2.85 in the last 12 months. About 85 per cent of the savings goes to shippers through lower fuel surcharges.