S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Transportation

FedEx Rate Hike Not Down to Fuel Costs

Photo of Paul Ausick
By Paul Ausick Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Jon Ogg
FedEx Corp. (NYSE: FDX) announced this morning that it would raise shipping rates at its FedEx Freight subsidiary by 6.9% beginning in July. The change affects shipments between the US and Canada, with the Lower 48 states, and within Canada, as well as the US portion of cross-border shipments to Mexico.

The company’s announcement also noted that there would be no increase to FedEx Freight’s fuel surcharge which it said is “one of the lowest in the LTL [less than truckload] industry. According to the AAA Fuel Gauge Report, a year ago a gallon of diesel fuel cost $3.993 compared with today’s price of $3.85.

FedEx offered no reason for the price hike, but the company did say earlier this year that uncertain economic conditions were having an impact on its business. This price increase could be the company’s way of trying to halt a slide in revenues.

Shares of FedEx are up about 1.2% at $87.12 in a 52-week range of $64.07-$98.66.

Paul Ausick

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Why Your 401(k) Could Trigger a Tax Bomb in Retirement (And What to Do Now)
Jeremy Phillips |

Why Your 401(k) Could Trigger a Tax Bomb in Retirement (And What to Do Now)
"Did you buy It from the mob?": Dave Ramsey hosts floored by 21-year-old's 30% truck loan
Jeremy Phillips |

"Did you buy It from the mob?": Dave Ramsey hosts floored by 21-year-old's 30% truck loan

Continue Reading

Paul Ausick |

FedEx On Track for New All-Time High on Earnings, Rate Increases

FedEx reported better-than-expected first-quarter fiscal 2015 results before markets opened Wednesday morning.
Chris Lange |

What to Expect When FedEx Reports After the Close

When FedEx reports its fiscal second-quarter financial results after the markets close on Tuesday, analysts expect to see strong year-over-year…
Chris Lange |

FedEx Plans to Raise Rates in 2019

FedEx shares were up slightly on Monday after the company announced that it would raising its shipping rates to kick…
FedEx to Skip Residential Delivery Fees This Holiday Season
Paul Ausick |

FedEx to Skip Residential Delivery Fees This Holiday Season

Package delivery service FedEx said this morning that it will not add surcharges to residential deliveries for the coming holiday…
Paul Ausick |

Woeful FedEx Outlook Comes True

        FedEx Corp. (NYSE: FDX) this morning reported first fiscal quarter earnings per share (EPS) of $1.45…
Douglas A. McIntyre |

Analyzing Recent Changes At Fedex (FDX)

By Yaser Anwar, CSC of Equity Investment Ideas FedEx posted an annual base rate increase for 07 of 5.5% for…
Paul Ausick |

FedEx Earnings Hit by Costs; Company Lowers Outlook

FedEx reported disappointing first-quarter fiscal 2016 results and lower guidance before markets opened Wednesday.
Chris Lange |

Key Analyst Sees Over 15% Upside in FedEx

FedEx is spreading its wings and preparing to take flight as the company looks to expand further into Europe with…
Chris Lange |

Is FedEx Now a Cheap Stock?

By Tkgd2007 at en.wikipedia [Public domain], from Wikimedia CommonsFedEx Corp. (NYSE: FDX) is a leading international provider of package delivery,…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618