Spot Truckload Rates Tumble as Diesel Falls

After spiking to start the year, load-to-truck ratios and truckload rates on the spot market slid downward during the week ending Jan. 16, according to DAT Solutions.

Diesel prices plummeted 7 cents to $2.11 per gallon, the lowest national average price since March 2009, and caused surcharges to be adjusted downward. Spot rates are “all-in” rates, combining a line-haul rate and a fuel surcharge.

In the van freight market, load posts decreased 21% while the number of available trucks rose 29%. As a result, the van load-to-truck ratio dropped 38% from 2.7 to 1.7 loads per truck, meaning there were 1.7 van loads for every truck posted on the DAT network. The national average van rate fell 5 cents to $1.68 per mile, which included a 1-cent decline in the average fuel surcharge.

Reefer load posts decreased 26% and truck posts jumped 22% during the week as the national average reefer rate dropped 6 cents to $1.90 per mile, including a 1-cent drop in the fuel surcharge. The load-to-truck ratio fell 39% from 6.7 to 4.0 loads per truck.

Flatbed load volume held steady but available capacity increased 27%, yielding a 21% decline in the load-to-truck ratio from 10.5 to 8.3 loads per truck. Average flatbed rates edged lower to $1.90 per mile, down 2 cents compared to the previous week.

Spot market freight volume rebounded 15% in December, month over month, and truckload line-haul rates increased for the three primary trailer types, DAT reported. Compared to the extraordinary volume and rates of 2014, however, spot market indicators continued to lag.

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