Fuel Updates

Fuel is at $3.123 for the week, which is up from $3.121 the previous week.

Carriers are still waiting for a market turnaround. Spot market activity is closely tracking trends from the past few years, with seasonal declines typical after the Fourth of July. Both load posts and truck posts are up compared to this time last year.

Contract negotiations are expected to become more challenging. As the spot market gains momentum, pricing power will gradually shift back to carriers.

Reefer Freight:

• The current national spot average is $2.42 per mile.
• The load-to-truck ratio is down 10%.
• The loosening of available reefer capacity marks the beginning of the “dog days of summer,” bringing with it lower spot market freight volumes.

Van Freight:

• The current national spot average is $2.06 per mile.
• The load-to-truck ratio is down 4%.
• Texas outbound volume has risen by 45%, and spot rates are at their second-highest in a decade.
• Many fleets that are dealing with slim profit margins and economic uncertainty have halted or scaled back new equipment acquisitions, further constraining capacity growth.

Flatbed Freight:

• The current national spot average is $2.54 per mile.
• The load-to-truck ratio had a slight increase of 1%.
• Pallet season is in effect. Much like truckload rates for reefers during produce season, external factors such as lumber prices for wooden pallets and resin prices for plastic pallets further influence costs during these peak times.

We hope you have a fantastic week! If you need any assistance or have any questions, please reach out to your RIM Representative or to our Domestic Team at RIMDomestic@rimlogistics.com.