Oil Pipelines Hike Rates by a Record as 'Red Hot' Inflation Bites
Miles of unused Keystone XL pipeline pipes outside Gascoyne, North Dakota.
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The cost of moving oil on pipelines crisscrossing the US is surging by the most ever as operators pass on higher business expenses to their customers.
Shippers who haven’t signed contracts will see rates jump by an all-time high of 13.3% after “red-hot inflation” last year, while the increase will vary for customers with contracts, consulting firm East Daley Analytics said in a note to clients. The tariffs, which are based on an annual adjustment from US regulators, are rising by a record for the second year in a row.