NS deals with diesel fuel prices. (Industry Outlook).(Norfolk Southern Corp.)(Brief Article)

Railway Age | June 1, 2003 | Copyright

Rising diesel fuel prices accounted for the largest increase in operating expenses for Norfolk Southern during this year's first quarter. Diesel fuel expense increased by $23 million to $104 million compared with $81 million in 2002. "Concerns about interruption in the supply of oil as the likelihood of war in Iraq increased drove diesel fuel costs to record high levels," NS Vice Chairman and Chief Financial Officer Henry C. Wolf told the Bear Stearns Global Transport & Logistics Conference on May 13, 2003. "We began a fuel-hedging program in 2001 consisting of swaps and ...

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