Chicago Rates Pressure Intermodal Spot Rate Index Higher - April 10 2018
Domestic intermodal spot rates are:
- Up 2.9% from last week.
- Up 10.8% from 90 days ago.
- Up 42.2% from prior year.
61.7% of the lanes tracked within the index decreased, but not enough to offset the continued pricing pressures in Chicago outbound lanes.
Outbound Linden, NJ and Seattle experienced the biggest week-over-week reductions.
Truckload spot rates took a jump 4.2% over the prior week, as reported by DAT.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $3.043 per gallon this week, which is a $0.001 increase from the prior week and third consecutive week the diesel price has increase.
The price per gallon is up $0.461 or 17.9% higher from the same period last year.
Oil prices took a big jump this week with WTI and Brent trading in the range of $67.65 and $72.80, respectively. Political instability in the Middle East is the primary driver for the dramatic increase.
The most recent projection by the EIA for diesel and oil prices reported prices will average $2.90 in calendar year 2018. The expectation is supply will outpace demand, particularly in the back half of 2018.
The full spreadsheet of the historical weekly price moves of diesel full can be found at https://www.eia.gov/petroleum/gasdiesel/.
Graphs listed below include:
- 53' Domestic Intermodal Price Index & Diesel Fuel Prices
- Rolling 52 Year-over-Year Comparison - 53' Domestic Intermodal and Diesel Fuel Prices
- Rolling 52 Year-over-Year % Change - 53' Domestic Intermodal and Diesel Fuel Prices
- 53' Domestic Intermodal and Diesel Prices Quarter-Over-Quarter Comparison
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