After reaching an all time high of $4.764 national average for the week of July 21, 2008, diesel fuel has dropped to $4.353, national average. Unfortunately, fuel surcharge rates applicable during August are based on a trailing average. Therefore UPS’s surcharge effective August 4, 2008 is 10.25% and FedEx’s is 10.25% as well through August 31, 2008. FedEx’s surcharge will rise to 10.50% for September and continue to hammer online vendors and retailers offering Free Shipping during the critical “back to school” selling period.
