So, it&#x27;s a major expense, but would require &quot;years of low prices&quot; to have an impact?  Huh?<p>Fuel and &quot;Purchased Transportation&quot; (also indexed to fuel costs) are their two largest cost categories.<p>They pass hedging costs directly via fuel surcharges, which is unrelated to rate hikes.<p>&quot;Both FedEx and UPS reported that fuel costs were down about 35% from the year earlier in their most recent quarter&quot;