Weekly discussion and analysis on the trends in the intermodal and truckload spot market.
Comments on the Weekly Intermodal Rate Charts:
Domestic intermodal spot rates are:
Up 7.1% from last week.
Down 0.3% from 90 days ago.
Up 29.1% from prior year.
Domestic intermodal spot rate index continue to remain volatile since peaking mid-December 2017.
62.3% of the 120 lanes tracked within the index experienced an increase, with many of them hitting triple digit increases. Dray capacity shortages are driving factor behind most of the price increases.
Our initial thoughts of spot rates settling within a 10% increase for 2018 will need to be re-visited if rates continue on their current trend.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $3.027 per gallon this week, which is a $0.036 decrease from the prior week.
The price per gallon is up $0.455 or 17.7% higher from the same period last year.
Oil remains above $60 a barrel with WTI and Brent trading in the range of $61.90 and $65.10, respectively.
The most recent projection by the EIA for diesel and oil prices were published on February 6, 2018. In the report, diesel is projected to average $2.91 in calendar year 2018, which is an increase over the $2.83 projection issued in November 2017.