Intermodal Spot Rates Keep Trucking Higher
The intermodal spot rate index increased 1.6% over prior week. Of the 115 lanes tracked in the weighted average index, 22.8% increased, 6.1% decreased and 71.1% went unchanged. The increases came primarily from outbound SoCal lanes.
For the week of August 20, 2018, domestic intermodal spot rates were:
- Up 1.6% from prior week.
- Up 9.8% from 90 days ago.
- Up 45.5% from prior year.
While the DAT continues to report declining spot rates, keep in mind truckload rates remain at all-time highs and this is a seasonal trend that will turn as we head into September..
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $3.207 per gallon this week, which is a $0.01 decrease.
The diesel price per gallon is up $0.611 or 23.5% higher from the same period last year.
Oil prices are up roughly $2.00 from last week, with WTI and Brent trading today in the range of $67.65 and $72.70, respectively. There are tremendous cross currents of stories within the oil market making it difficult to do a read through on the overall direction. The stories range from the strong dollar, to politics, to demand, to supply and to tariff disagreements slowing down global growth.
The EIA for diesel and oil prices current projection is diesel will average $3.15 a gallon for calendar year 2018.
The full spreadsheet of the historical weekly price moves of diesel full can be found at https://www.eia.gov/petroleum/gasdiesel/.
Graphs listed below include:
- 53' Domestic Intermodal Price Index & Diesel Fuel Prices
- Variance to January 1, 2013 Baseline
- Rolling 52 Year-over-Year Comparison - 53' Domestic Intermodal and Diesel Fuel Prices
- Rolling 52 Year-over-Year % Change - 53' Domestic Intermodal and Diesel Fuel Prices
- 53' Domestic Intermodal and Diesel Prices Quarter-Over-Quarter Comparison
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