FEDEX GROUND TO ASSESS FUEL SURCHARGE
FedEx Corp.’s FedEx Ground unit said it will begin charging a 1.25 percent fee for fuel costs on Aug. 7, following a similar increase last week by rival United Parcel Service.
The temporary hike will be added to basic ground delivery rates in the U.S., Canada, and Mexico. FedEx Express, the air delivery company, has raised rates twice this year, by a total of 4 percent, to compensate for higher fuel costs.
According to figures released last month, FedEx spent $242 million for fuel in its fiscal fourth quarter that ended May 31, an increase of 59 percent from the previous year.