February Fuel Surcharge
February 1, 2008

Dear valued customer,
Crude dropped mid January to $87.00 US per barrel, however, in the later part of January the price has settled in the $90.00 to $94.00 US per barrel range. Lowering gasoline and...

distillate inventories seems to be the strategy the oil refiners are using to keep the rack prices as high as possible, during a time when demand is soft, particularly for gasoline. Our pricing fluctuations have moved in a tight band of around two or three cents per litre, therefore the surcharge will remain stable at 21% effective February 1st. World oil prices are disturbingly high and pose a significant challenge to our industry and the economy as a whole. Perhaps a cooling US and Canadian economy will put downward pressure on oil prices, however all bets are off.
We will continue to evaluate the surcharge again at the end of every month. This is a very unpredictable atmosphere to do business, however these measures need to be taken to ensure we remain profitable. Thank -you for your patience and understanding in this matter.

Best regards,

Greg Arndt
Vice-President
Jade Transport Ltd.

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