Hawaiʻi residents will soon be facing another impact of inflation — this time in inter-island shipping.
Earlier this month, Matson announced it was increasing its fuel surcharge for Hawaiʻi by 7.5%.
Residents will likely feel this increase next month in everyday purchases.
During a monthly webinar hosted by the Hawaiʻi Society of Business Professionals, Young Brothers President Jeremiah Ana says the company is monitoring the continuing changes in fuel prices.
"Here, at YB, we have what’s called a lagging fuel surcharge. For us, fuel surcharges are effectively a pass-through. And so every three months, we reset our fuel surcharge based on the lagging consumption and purchase price that we face," Ana said.
"So, at least based on the current trend, we expect that fuel surcharge to increase. We, likewise, are in the process of issuing communications to articulate that, you know, unfortunately, while we’re monitoring the situation, we do expect some impact to customers. But what that is it really just depends on how prices continue to fluctuate," he sadded.
Young Brothers primarily ships goods interisland by barge.
Ana says he expects the company’s next fuel surcharge reset to happen in April or May.
