The InTek intermodal spot rate index increased 2.7% over the prior week.
For the week of September 4, 2019, domestic intermodal spot rate index:
Lane Stats: 25.2% increased, 4.3% decreased and 70.5% went unchanged.
Same story this week as last. If it were not for intermodal spot rate increases coming from outbound LA lanes, the index would have been down again this week.
North American intermodal volume remains weak, as compared to prior YTD, with volume down 2.8% from prior YTD.
Breaking the volume down by equipment, TOFC is down 12.7% and COFC is down 2.0%.
By region, volume is down 3.9% in the US, up 1.7% in Canada and down 3.5% in Mexico.
The national truckload spot rate increased 2.9% last week, as reported by the DAT Trendline Report.
The spread in the year-over-year national truckload average rate per mile and intermodal spot rates remain in favor of intermodal, with truckload spot rates down 15.0% and domestic 53' intermodal down 25.5%.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $2.976 per gallon this week, which is down $0.007 from the prior week.
This is the eighth consecutive week the market has seen diesel rates drop.
The diesel price per gallon is down $0.276 or 8.5% from the same period last year.
WTI and Brent crude oil pricing are up little over $2.50 this week, with WTI and Brent closing at $56.52 and $61.54, respectively.
The EIA's August 2019 diesel price average price projection is $3.07 per gallon for calendar year. This is a $0.03 decrease from July's forecast.
In the same report, the EIA's average price per barrel oil projections for 2019 are:
The full spreadsheet of the historical weekly price moves of diesel full can be found at https://www.eia.gov/petroleum/gasdiesel/.