Comments on the Weekly Intermodal Rate Charts:
Domestic intermodal spot rates are:
- Up 1.8% from last week.
- Up 15.1% from 90 days ago.
- Up 14.3% from prior year.
The intermodal spot rate index is at its highest level since the end of March 2014.
While much of the headlines have been around weather's impact to pricing, volumes and diesel prices are also contributors. These factors, along with ELD, will continue to keep spot rates elevated and set the tone for the annual RFP season.
Peak season continues to have a firm grip on the California market with box allocations and surcharges.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $2.758 per gallon this week, which is a $0.153 increase from the prior week. The price per gallon is up $0.351 or 14.6% higher from the same period last year.
WTI is once again climbing, as a result of the Harvey. Brent is also up from last week. WTI and Brent are trading at $48.00 and $54.07 a barrel this week, respectively. Hurricane Harvey took the headlines, although the long term story is still supply is far outpacing demand. With that said, we anticipate a short term spike on diesel, as the refineries come back on-line, then will see diesel drift down to pre-Harvey prices.
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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