Intermodal Spot Rate Index Back on the Rise - April 24 2018
Domestic intermodal spot rates are:
- Up 4.7% from last week.
- Up 7.7% from 90 days ago.
- Up 39.8% from prior year.
The intermodal spot rate index increase cannot be traced to one specific market, as 87% of the lanes tracked within the index increased.
The outbound markets that outpaced the overall average where Oakland, Seattle, Chicago and Kearney, while outbound LA, Dallas and Atalanta experienced below average increases.
DAT reported a $0.05 or 2.3% decrease per mile this week with the current dry van spot rate of $2.15 a mile. Even with the decrease, the dry van national average spot rate is 32% higher than last year.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $3.133 per gallon this week, which is a $0.029 increase from the prior week and the fifth consecutive week diesel prices have increased.
The price per gallon is up $0.538 or 20.7% higher from the same period last year.
Oil prices are up this week with WTI and Brent trading in the range of $68.15 and $74.80, respectively. Political instability remains in the headlines, but production and demand are certainly contributing factors in the upward pressure on oil prices.
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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