FedEx Will Boost Shipping Rates by 3.9% on Average in January
On Jan. 3, the company will increase FedEx Express shipping rates for domestic and export services by an average of 3.9%. FedEx's actual planned 5.9% average-rate hike will be mitigated by 2 percentage points when factoring in an adjustment to the minimum threshold for fuel surcharges, the company said in a statement Wednesday.
"This pricing adjustment will allow for key investments that will enable FedEx to continue to provide industry leading service and shipping solutions," said FedEx Executive Vice President T. Michael Glen in the statement.
In November, FedEx will also boost rates for FedEx Freight and FedEx National LTL by 6.9%. Rate changes for FedEx Ground and FedEx SmartPost will be announced later in the year, the company said Wednesday.