FedEx Freight cuts fuel surcharge by 25 percent

MEMPHIS , Tenn. (AP) - FedEx Corp.'s freight trucking operations, FedEx Freight and FedEx National LTL, announced a 25 percent cut in fuel surcharges Monday.

Rates at FedEx Express, which operates the company's cargo airline, and at FedEx Ground, will not be affected by the change, the company said.

Fuel surcharges for both of the less-than-truckload companies are updated weekly, based on fuel prices published by the U.S. Department of Energy.

"By significantly reducing our fuel surcharges, we offer immediate and long-term assistance to shippers who are facing both a challenging economy and volatile fuel prices," said Douglas G. Duncan, president and chief executive of FedEx Freight.

Shares of FedEx fell 4 cents to $115.63 Monday.

(Copyright 2007 by The Associated Press. All Rights Reserved.)