Comments on the Weekly Intermodal Rate Charts:
Domestic intermodal spot rates are:
- Down 3.2% from last week.
- Up 13.9% from 90 days ago.
- Up 10.3% from prior year.
The story remains the same ... networks are imbalanced from two hurricanes; diesel rates continue to rise with the price of oil holding above $50 a barrel; and overall freight volumes are up. The combination of these three factors have caused capacity to remain tight and keep domestic intermodal spot markets elevated.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $2.788 per gallon this week, which is a $0.002 increase from the prior week. The price per gallon is up $0.406 or 17.0% higher from the same period last year.
WTI continues to hold above $50 a barrel. WTI and Brent are trading this week in the range of $51.50 and $57.60, respectively. OPEC's announcement of holding to production cuts and indications of a short-term oil inventory draw down are holding oil pricing above $50 a barrel. Even with that said, supply has the long-term prospect of outpacing demand, so expect oil to continue to be a battle ground topic for the foreseeable future.
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
- Price Changes in 53' Domestic Intermodal Pricing & Diesel - 1/1/2013 Baseline
- 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
- Rolling Quarter-over-Quarter Comparison - 53' Domestic Intermodal and Diesel Fuel Prices
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