DAT Trendlines reported the national average for 53' dry van rates was $2.28 per mile, which is a decrease of $0.02 a mile. This positions the national truckload spot rate up 22% over prior year versus domestic intermodal being up 17%. The combination of the percentage increase being lower with intermodal and the truckload rate having held over $2.00 a mile creates more conversation and execution of modal conversion in the marketplace.
Cold temperature cities continue to struggle with capacity on any given day.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $3.028 per gallon this week, which is a $0.032 increase from the prior week.
The last time diesel was above $3.00 a gallon was for the week of Jan 12 2015, when it reported $3.053 a gallon.
The price per gallon is up $0.443 or 17.1% higher from the same period last year.
Oil is only slightly down this week with WTI and Brent is trading today $64.10 and $69.45, respectively.
The most recent projection by the EIA for diesel and oil prices were published on November 7. In the report, diesel is projected to average $2.83 in calendar year 2018.