ABF Temporarily Limits Fuel Surcharge Due to Hurricane
by September 12, 2005 12:00 am 75 views
Fort Smith-based ABF Freight System Inc. announced that it will limit its standard fuel surcharge through Oct. 4 because of the high fuel prices that resulted from the loss of oil production in the Gulf Coast, according to a press release.
During that period of time, the trucking firm’s fuel surcharge will not exceed $2.59 per gallon, the price it was August 29 before Hurricane Katrina caused diesel fuel prices to jump at least 30 cents per gallon.
ABF is the largest subsidiary of Arkansas Best Corp. of Fort Smith. ABF is a less-than-truckload carrier of general commodities providing national, interregional and regional transportation services.
The company increased its second quarter income up 123 percent to $23.4 million from $10.46 in its first quarter of 2005. In 2004, ABF had net income of $75.5 million, up 64 percent from $46.1 million in 2003.