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 0.9% from last week.
Down 0.1% from 90 days ago.
Up 18.7% from prior year.
Domestic intermodal rates moved up for the third consecutive week, primarily driven by Chicago freight lanes.
DAT Trendlines reported the national average for 53' dry van rates dropped 0.4 percent from the prior week to $2.27 a mile. The national truckload spot rate is up 22% over prior.
History has shown that when the national truckload spot rate is above $2.00 a mile and capacity is tight creates more conversation and opportunity of modal conversion in the marketplace.
Diesel Fuel Comments:t
The EIA reported average diesel fuel price of $3.025 per gallon this week, which is a $0.003 decrease from the prior week.
The price per gallon is up $0.456 or 17.8% higher from the same period last year.
Oil increased this week with WTI and Brent is trading today $66.14 and $70.52, respectively. An improved oil market that is exhibiting better balance in supply and demand is pushing oil pricing higher.
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.