Comments on the Weekly Intermodal Rate Charts:
Domestic intermodal spot rates are:
- Up 4.8% from last week.
- Up 9.6% from 90 days ago.
- Up 17.1% from prior year.
At the crossroads of rising 53' capacity demand, increasing fuel prices and CSX operational issues came the words "peak season rates" this week. LA outbound rates to various destinations are under the most pressure, jumping roughly 15% over the prior week.
While rates were on the upswing the past couple of weeks, CSX's operational issues put the market into a peak sooner than expected.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $2.581 per gallon this week, which is a $0.050 increase from the prior week. The price per gallon is up $0.265 or 10.3% higher from the same period last year.
Oil prices are relatively flat from last week. WTI and Brent crude are trading in the range of $49.15 and $52.05 a barrel this week, respectively. The story continues to be around supply outpacing demand. OPEC is holding onto production cuts with hopes to help drive WTI up to and above $50, but US drillers continue to pump more into the market than demand dictates when oil prices approach $50, which has resulted in WTI being price bound between $45 and $50 a barrel. The weekly Baker Hughes rig count chart helps to illustrate the point. All-in, oil is a battle ground topic that appears to not be lessening any time soon.
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
- Price Changes in 53' Domestic Intermodal Pricing & Diesel - 1/1/2013 Baseline
- Rolling Quarter-over-Quarter Comparison - 53' Domestic Intermodal and Diesel Fuel Prices
- 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
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