Wonder if UPS bought fuel on the futures market at year-ago
prices locked-in? Southwest airlines is taking that hit now.
UPS published rates will change as follows*: The average UPS Ground and UPS Standard to Canada rate increase and UPS Freight® LTL General Rate Increase will be 5.9%. Air and International services will increase an average net 4.9% through a combination of a 6.9% increase in rates and a 2% reduction in the Air and International Fuel Surcharge index.
They can only deliver a 2 % reduction in fuel surcharges.