Spot Market Insights: Rates keep falling, but rising fuel prices could change that

Overview

• Aligning with seasonal expectations, spot rates fell across equipment types.
• Flatbed spot rates declined for a fifth straight week, decreasing 0.9% to $3.64.
• Specialized rates fell 3.3% to $3.45.
• Refrigerated rates fell 2.4% to $3.37.
• Van rates declined 2.8% to $2.88
• Fuel prices jumped again after steadily decreasing for several weeks, likely due to resumed geopolitical tensions.
• National prices rose $0.20 to $4.86 from $4.66 per gallon in the previous week.

Additional Data

• For week 28 in the spot market, 3 of the 4 key market indicators decreased.
• The overall Market Demand Index (MDI) fell 18.7 points to 151.0 as load availability decreased 5.8% and truck availability rose 5.9%. Compared to last year the MDI is up 65.8 points, or 77.2%.
• Last week, market rates fell 1.3% to $3.46. Compared to last year, rates are up 45.0%.
• For the Dry Van market, 3 of the 4 key market indicators decreased.
• The Van MDI decreased 48.9 points to 267.7 as load availability fell 7.8% and truck availability rose 9.1%. Compared to last year the MDI is up 139.5 points, or 108.8%.
• Last week, Van rates declined 2.8% to $2.88. Compared to last year, rates are up 43.7%.
• For the Refrigerated market, 3 of the 4 key market indicators decreased in the latest week.
• The Refrigerated MDI increased 67.9 points to 404.9 as load availability decreased 6.7% and truck availability decreased 22.4%. Compared to last year the MDI is up 221.2 points, or 120.4%.
• Last week, Refrigerated rates fell 2.4% to $3.37. Compared to last year, rates are up 38.7%.
• For the Flatbed market, 3 of the 4 key market indicators decreased in the latest week.
• The Flatbed MDI decreased 34.1 points to 197.8 as load availability fell 7.3% and truck availability rose 8.6%. Compared to last year the MDI is up 95.5 points, or 93.3%.
• Last week, Flatbed rates declined 0.9% to $3.64. Compared to last year, rates are up 47.7%.
• For the Specialized market, 3 of the 4 key market indicators increased in the latest week.
• The Specialized MDI increased 1.7 points to 39.2 as load availability moved higher by 10.1% and truck availability rose 5.3%. Compared to last year the MDI is up 14.4 points, or 58.1%.
• Last week, Specialized rates fell 3.3% to $3.45. Compared to last year, rates are up 33.5%.