Comments on the Weekly Intermodal Rate Charts:
Domestic intermodal spot rates are:
- Up 1.4% from last week.
- Up 12.6% from 90 days ago.
- Up 18.6% 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 intermodal spot rate index is at its highest level since mid-April 2014. Comparing this week against last week find outbound California rates held flat, while outbound Chicago increased across the board.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $2.605 per gallon this week, which is a $0.009 increase from the prior week. The price per gallon is up $0.196 or 8.1% higher from the same period last year.
WTI is headed back down from last week, as a result of the Hurricane Harvey, while Brent is essentially trading flat to last week. WTI and Brent are trading at roughly $45.90 and $51.70 a barrel this week, respectively. The story continues to be around supply outpacing demand, although Hurricane Harvey took the headlines with the expectation of oil dropping further. 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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