Crude oil prices rose above $100 per barrel again in September 2026. At the same time, according to Freightos, bunker fuel for ships and kerosene for aircraft were around 60 percent above the levels prior to the latest escalation in the Middle East.
For shippers, this does not mean that every freight invoice immediately increases by 60 percent. Fuel is only one part of transport costs. Additionally, carriers and freight forwarders use different surcharge models. In sea freight, the BAF (Bunker Adjustment Factor) is common. In air freight, there are kerosene or fuel surcharges; in road transport, usually diesel surcharges.
These surcharges are frequently adjusted monthly or quarterly. The basis can be a specific diesel, kerosene, or bunker index. Some contracts contain a threshold range, while others change at even small price jumps. The daily price of Brent crude oil therefore cannot be directly transferred to the next invoice.
Additionally, the route plays a role. The long route around the Cape of Good Hope consumes more fuel than passage through the Suez Canal. High oil prices thus increase the economic pressure to use shorter routes again, despite the security risks present there.
For Swiss imports, several stages often come together: sea freight surcharge, pre- or on-carriage by truck, and possibly air freight for urgent shortfalls. Those who only consider the main haul underestimate the overall effect.