Broker-posted spot market rates in the Truckstop.com system were more or less stable during the most recent week ending Oct. 9, while diesel fuel’s national average fell by 2 cents, the third consecutive weekly decline.
FTR Transportation Intelligence and Truckstop.com reported that the total market broker-posted rate was basically unchanged week over week, dipping by just a tenth of a cent per mile. Total rates remain 42% higher than the same week a year ago, but that big increase owner-operators are setting against a 69% increase in fuel prices during the same period.
During the most recent week, dry van spot rates ticked up four tenths of a cent for the sixth increase in seven weeks, coming in 49% higher than a year ago.
Refrigerated spot rates increased 1.2 cents after rising more than 5 cents during the previous week, marking a 45.5% increase over the same week a year ago.
Finally, flatbed rates declined seven tenths of a cent for the first decrease in four weeks, but remain 43% higher than a year ago.
DAT Freight & Analytics reported that last week’s national average broker-to-carrier spot rates rose for dry van and reefer freight, while lower diesel prices during the week pulled the flatbed all-in rate down. Linehaul rates excluding a fuel surcharge rose for all three equipment types.
DAT market analyst Dean Croke highlighted that “van linehaul," minus fuel, "is up 35% year over year, reefer 33%, and flatbed 29%.”DAT Freight & Analytics
Compared to the nine-year seasonal average for the same week, “van runs 23% higher, reefer 28%, and flatbed 25%,” Croke added. “The 35-day DAT iQ RateCast forecast has van linehaul easing to $2.23/mile by mid-November, reefer edging up to $2.77, and flatbed easing to $2.59.”
[Related: How much will diesel go up tomorrow?]
Diesel prices moderate after big declines
Three consecutive weekly decreases have improved the cost side of the ledger for owners, as diesel fuel’s national average is down 35 cents from the record high of $6.53 per gallon set during the week ending Sept. 21.
With a 2-cent decline during the most recent week ending Oct. 12, diesel’s national average is now $6.18/gal, according to the Energy Information Administration.
During the most recent week, the eastern two-thirds of the U.S. generally saw prices drop from the prior week, while the West Coast and Rocky Mountains regions saw upticks.
The largest decrease was observed in the Lower Atlantic, where prices fell 5.3 cents, while the biggest increase last week occurred in the Rocky Mountain region, which saw a 3.5-cent increase.
The nation’s cheapest diesel is in the Lower Atlantic region at $5.65/gal., followed by the Gulf Coast region at $5.81/gal.
The most expensive fuel? You guessed it -- along the West Coast, with California still above $8 for an average $8.09/gal., and the West Coast less California averaging $6.50/gal.
Prices in other regions, according to EIA:
- New England -- $6.44
- Central Atlantic -- $6.47
- Midwest -- $6.26
- Rocky Mountain -- $6.30
ProMiles’ diesel averages during the same week fell 11.9 cents to $6.15/gal. nationwide. According to the ProMiles Fuel Surcharge Index, the most expensive diesel can be found in California at $8.28/gal., and the cheapest along the Gulf Coast at $5.73/gal.
