Spot Truckload Rates Hold as Fuel Prices Drop

Spot truckload rates remained firm as overall load availability fell 5.5% during the week ending August 22, according to DAT Solutions.

Refrigerated load volume increased 4.1% as the number of available trucks was unchanged week over week. The reefer load-to-truck ratio rose 4.1%, to 4.7 loads per truck, meaning there were 4.7 available reefer loads for every reefer truck posted on the DAT network.

The national average spot rate for reefer loads held firm at a national average of $2.04 per mile. In the van market, load availability declined 2.6% after three consecutive weeks of gains. The national average van rate dipped 1 cent to $1.76 per mile, continuing a seasonal slide.

The number of van posts edged up 1.1% and pushed the load-to-truck ratio down 3.7%. After rounding, it remains at 1.8 van loads per truck.

Flatbed load availability fell 13% while available capacity increased 6.8%. The national average flatbed load-to-truck ratio dropped 19% to 10.4 loads per truck. The average spot flatbed rate was unchanged at $2.07 per mile. Notably, the national average price of diesel fell 6 cents to $2.56 per gallon last week. Cheaper fuel affects supply and demand.

While it’s typical for spot market rates to increase when load posts are up—and load available has been up in recent weeks—truck posts have also been on the rise. With the cost of diesel low, there are more trucks on the road, which typically leads to looser truckload capacity and less pressure on rates.

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