In the event the price of West Texas Intermediate Crude Oil, as published in the Wall Street Journal, exceeds $28.00 per barrel for thirty (30) consecutive days, NS retains the right to apply a fuel surcharge to the freight charge(s) in effect on the date the fuel surcharge is applied, herein after referred to as the “Base Freight Charge(s)”. If this option is exercised, the fuel surcharge shall be applied according to the following schedule.
Texas Intermediate Cumulative Crude Oil Fuel Surcharge
|Price per barrel||Percentage|
Each $5.00 per barrel increase an additional 2% thereafter
The price of West Texas Intermediate Crude Oil must exceed a given bracket for thirty (30) consecutive Wall Street Journal Publication Days for the surcharge under that bracket to be applicable. If the price of West Texas Intermediate Crude Oil ceases to be available from the Wall Street Journal or some other readily accessible source, a substitute to source will be utilized.
Customers will receive notice of any fuel surcharge not less than ten (10) days prior to its application. Any fuel surcharge applied to the freight charges(s) in this authority will be removed or reduced when the price of West Texas Intermediate Crude Oil remains below the price which triggers a specific surcharge bracket for thirty (30) consecutive Wall Street Journal Publication Days. In no case will the freight charges(s) be reduced below the Base Freight Charge(s) nor will the application or removal of the fuel surcharge be retroactive.
NOTE: Wall Street Journal Publication Day is defined as: A day on which the Wall Street Journal is published and the previous NYMEX WTI trading session’s closing price is reported.