Spot rates largely followed seasonal expectations during the most recent week ending Nov. 6, with van and reefer rates rising and flatbed rates easing back.
Meanwhile, fuel prices fell to their lowest weekly national average since prices surged above $6 per gallon as a national average in early September.
The movement in spot rates saw flatbed fall more than expected, according to Truckstop.com and FTR Transportation Intelligence.
Dry van rates increased 1.5% (4.4 cents) to $2.89 per mile, while refrigerated rates rose 2.1% (7 cents) to $3.52/mile. Flatbed rates declined 1.7% (5.7 cents) to $3.25/mile.
Overall, rates remained approximately 40% to 50% higher year over year. Expectations for this week, judging historically in the run-up to the Thanksgiving holiday, FTR noted, were for reefer rates to rise, while flatbed typically falls. Dry van rates have been mixed over the years.
DAT Freight & Analytics reported spot linehaul rates (minus fuel) rising between 2 and 9 cents/mile, and broker-to-carrier spot rates (including fuel) up 4 to 10 cents. Linehaul drove most of the increase across all three equipment types.
All-in rates in the DAT system for van were up 7 cents to $3.11/mile, while reefer rates were up 10 cents to $3.70/mile. Flatbed rates were also up by 4 cents to $3.65/mile.
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Fuel down to 9-week low
Diesel fuel prices fell for the second consecutive week during the most recent week ending Nov. 9, down 16.5 cents to $6.13 per gallon nationwide, according to the Energy Information Administration. The weekly average is the lowest since the week ending Sept. 7, before prices skyrocketed past $6/gal.
Prices were down during the week in all regions, led by a big 23.9-cent decline in the Rocky Mountain region.
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A 17.9-cent decrease in California brought the state’s average fuel price below $8/gal. to $7.90/gal. -- still the highest in the nation by a long shot.
The cheapest diesel is in the Lower Atlantic region at $5.69/gal., after a 12-cent decrease during the last week.
Prices in other regions, according to EIA:
- New England -- $6.35
- Central Atlantic -- $6.41
- Midwest -- $6.20
- Gulf Coast -- $5.74
- Rocky Mountain -- $6.21
- West Coast less California -- $6.43
ProMiles’ diesel averages during the same week fell 9.2 cents to $6.12/gal. nationwide. According to the ProMiles Fuel Surcharge Index, the most expensive diesel can be found in California at $8.23/gal., and the cheapest along the Gulf Coast at $5.72/gal.
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