AusRAIL, Market Sectors

Costello faces new transport inflation blow

<p>Treasurer Peter Costello’s efforts to keep a lid on inflation may have taken a further blow today (Thursday, July 20) after Toll Holdings signalled price-rises for Pacific National rail freight and its newly acquired Patrick stevedoring operations.</p> <p>Mr Costello’s office yesterday (Wednesday, July 19) urged truckers not to pass on increased fuel costs to customers because of their likely effect on inflation, after Victorian Transport Association chief executive Philip Lovel said his members should do so or face ruin. </p> <p>The <em> Australian Financial Review</em> reported Toll managing director Paul Little as saying a cost recovery process was underway to offset higher fuel and maintenance expenses and higher access fees to Queensland Rail’s newly acquired Acacia Ridge rail hub. </p> <p>&#8220I wouldn’t be presumptuous enough to say customers will agree with all of them,&#8221 he said.</p> <p>The newspaper said there would be a sliding scale of rail freight price rises from October of 15% on the east coast and 6% nationally. It also said freight forwarding and stevedoring charges were being reviewed.</p> <br />