US Railroads Gain Freight as Fuel Costs Hit Truckers
Record fuel prices and shrinking capacity are driving freight from US highways onto trains. Major railroad companies reported higher third-quarter revenue and profit as shippers seek cheaper long-haul transport options.
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Record fuel prices are pushing freight off highways in the United States and onto trains, driving up revenue for major railroad operators. UNION PACIFIC CORP reported higher third-quarter profits as shippers sought cheaper long-haul transportation. The shift highlights how surging energy costs are reshaping supply chains across North America.
