Comments on the Weekly Intermodal Rate Charts:
Domestic intermodal spot rates are:
- Up 3.2% from last week.
- Up 11.4% from 90 days ago.
- Up 25.3% from prior year.
Peak season continues to have a firm grip on the California market with box allocations, peak surcharges and rising spot rates.
The driving reason spot rates are up 25.3% from prior year is peak season hit a full month prior to last year and rates were at their lowest levels since tracking rates against the January 1, 2013, as is illustrated in the below charts.
The current environment for both trucking and intermodal will make the 2017 RFP challenging, as is outlined with suggestions on how to improve the odds for success in this week focus blog.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $2.596 per gallon this week, which is a $0.002 decrease from the prior week. The price per gallon is up $0.226 or 8.7% higher from the same period last year.
WTI is essentially trading flat to last week, while Brent is up. WTI and Brent are trading at roughly $47.75 and $51.90 a barrel this week, respectively. The story continues to be around supply outpacing demand. There is not much more to add on the topic, other than oil is a battle ground topic that will continue for months to come, as oil producers need the cash to stay afloat and without price their only option is to pump more into a market that is not needing more.
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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