The link below provides a historical chart of the FedEx and UPS fuel surcharge rate. Of note, the UPS and FedEx surcharges (air and ground) are linked to their respective indices with a two month lag (i.e. the surcharge reflects the average fuel price from two months ago). In addition, the indices are typically recalibrated in conjunction with the FedEx and UPS annual rate increase. For example, the carriers increased the base freight rates by 6.9% in 2011, but reduced the fuel surcharge percentage (relative to the current index) by 2 points. This allows the UPS and FedEx to claim that the overall "net" increase is 4.9%.