Key Currency Exchange Rates for Friday, 3/9/18

National Average Price for Regular Unleaded Current: $2.699; Month Ago: $2.400; Year Ago: $2.472. National Average Price for Diesel Current: $2.908; Month Ago: $2.640; Year Ago: $2.871

FedEx will increase three peak surcharges on Express and Ground shipments beginning June 21, the carrier announced in an update Friday. Increased surcharges include Peak - Residential Delivery Charge for FedEx Express and FedEx Ground domestic; Peak Surcharges on U.S. Express Package Services, U.S. Ground Services and International Ground Services; and a Peak Surcharge on FedEx Ground Economy Package Service, all with effective dates of June 21, 2021, until further notice. Total Retail's Take: Shipping carriers continue to increase rates under the strain of large shipment volumes during the COVID-19 pandemic. The announcement from FedEx states that the impact of the virus continues to generate elevated volumes, high demand for capacity, and increased operating costs across its carrier network. The surcharge on residential shipping will have the biggest effect on e-commerce, which will see online retailers hit with a 100 percent increase from $0.30 to $0.60 per package. Trevor Outman, co-CEO at Shipware, noted that "this will have a direct impact on all direct-to-consumer e-commerce businesses; doubling their current residential surcharge costs."

National Average Price for Regular – Current: $2.863; Month Ago: $2.932; Year Ago: $2.280. National Average Price for Diesel – Current: $3.175; Month Ago: $3.188; Year Ago: $2.465.