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.