Fuel Updates

Fuel is at $3.711 for the week, which is down from $3.754 the previous week.

The pre-Thanksgiving truckload market brings heightened demand and tight capacity, which will lead to increased rates and potential delays. This “peak season within a peak season” is driven by retailers stocking up for the holiday season, as well as a massive surge in the shipping of perishable goods.

Reefer Freight:

• Spot rates have increased to $2.49 as Q3 closes.
• The load-to-truck ratio has increased 17%.
• Load post volumes have seen a 2% increase, leading to a significant 35% rise year-over-year.
• Peak sweet potato season drives higher spot rates and tighter capacity, pulling resources from other markets.

Van Freight:

• Spot rates have increased to $2.11.
• The load-to-truck ratio has increased 13%.
• Load posts have increased 4%, marking a 25% increase from last year.
• Tight capacity in Illinois regional lanes, with Chicago load posts up 15% week over week, is driving spot rates to an average of $2.60 per mile for carriers.

Flatbed Freight:

• Spot rates have increased to $2.55.
• The load-to-truck ratio has increased 7%.
• Load posts declined 1% after three (3) consecutive weeks of increases, while carrier equipment posts fell 8%.

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.