Diesel surge lifts spot rates as pressure mounts on fleet margins

Last week, the rise in diesel prices prompted stronger spot rates, according to weekly reports from FTR Transportation Intelligence and DAT Freight & Analytics.

According to FTR, "spot rates for each of the three principal equipment types rose more than 10 cents during a week when dry van and refrigerated van rates typically fall. Rate gains did not fully offset higher fuel costs, but only flatbed saw substantial deterioration in its rate strength versus the prior year when fuel surcharges are excluded from the calculation."

Here is how rates and volumes changed across the three major spot market equipment types:

Dry van rates and volumes

According to FTR: Spot rates jumped 12 cents last week, their highest level since the end of 2022, but fell 3.5 cents excluding fuel. Year over year, rates are up about 29%. Dry van loads rose 3.6%. 

According to DAT: National linehaul spot rates, excluding fuel, dropped $0.08 per mile last week, averaging $1.92 per mile. This rate is 18% higher than last year.

Refrigerated rates and volumes

According to FTR: Spot rates rose just over 10 cents last week but dropped more than 5 cents excluding fuel. Rates, excluding fuel, were about 28% higher than last year. Refrigerated loads increased 6.7%.

According to DAT: National linehaul spot rates, excluding fuel, dropped $0.08 per mile last week, averaging $2.30 per mile. This rate is 22% higher than last year.

Flatbed rates and volumes

According to FTR: Spot rates rose almost 11 cents last week, but excluding fuel, they fell almost 5 cents. Rates, excluding fuel, were up 7% year over year. Flatbed loads rose 6.9%.

According to DAT: National linehaul spot rates dropped $0.02 per mile last week, averaging $2.31 per mile. This rate is 12% higher than last year.