Old Dominion Freight Line Announces General Rate Increase Of 4.9%

(RTTNews) - Old Dominion Freight Line, Inc. (ODFL) announced Thursday a general rate increase (GRI) of 4.9 percent applicable to rates established under the existing ODFL 559, 670, and 550 tariffs, effective January 3, 2023.

The company said the GRI is based on the Company's economic forecast and expectations for the operating environment. This GRI will affect the Company's class tariffs and is intended to partially offset the rising costs of real estate, new equipment, technology investments, and competitive employee wage and benefit packages.

The GRI also provides for a nominal increase in minimum charges with respect to intrastate, interstate and cross border lanes.