FMCSA warns of Motus scam as freight firms and diesel climbs again
Rates rose in every truckload and LTL segment but flatbed in August, while the national diesel average reached $5.967 a gallon for the week to September 7.
The Federal Motor Carrier Safety Administration is warning carriers about an email scam built around its new Motus registration system. If you get a message telling you to register or re-verify through Motus, slow down and confirm it with the agency directly before you click anything, because fraudsters are using the rollout as cover.
The rate picture underneath firmed again in August, and in most segments plainly so. On the Bureau of Labor Statistics producer price index, dry van truckload rose 1.9% on the month to 207.6 and is up 13.9% on the year. Less-than-truckload climbed 4.5% to 306.8. The all-trucking index rose 1.9% to 213.3. Flatbed and specialized freight was the one holdout, slipping 0.8% to 166.2, though it is still 8.0% higher than a year ago.
Those are indices, not dollars per mile: they track change from a base period, blend contract with spot business, and August is still preliminary, so they turn later and more gently than a spot rate would. Read them as direction.
The demand signals point the same way. The Commerce Department reported retail sales rose 1.2% in August, and FreightWaves says its Sonar data shows the first year-on-year volume growth in 42 months as peak season approaches -- tentative, but the first such reading in over three years. Refrigerated produce was the quiet segment: the national reefer average barely moved, down 0.3% to $4.11 a mile in the week to September 8, though it remains 8.2% above a year ago. That average is produce-only and unweighted across active lanes, so the lane table matters more than the headline number.
The cost side is where it bites. The national on-highway diesel average reached $5.967 a gallon in the week to September 7, up 6.6% in a single week and 58.4% on the year. That is a retail pump price including taxes; fleets buying on contract pay less. Trade outlets report it has since pushed past $6.28 (Trucking Dive), with a Saudi pipeline closure squeezing supply (Transport Topics). Where you fill still swings the bill: California ran $7.764 a gallon against $5.605 in the Lower Atlantic, a $2.16 spread, so plan fills toward the cheaper regions where a route allows.
Two more items for anyone running the numbers. The Federal Reserve lifted its key rate a quarter point to about 3.9%, its first hike in three years, which over time means costlier truck and equipment loans (Transport Topics). And J.B. Hunt warned third-quarter earnings could fall 5% to 10% on surging fuel and driver costs, sending its shares down 12% (FreightWaves), a reminder the fuel squeeze is real even as freight revenue firms.
It is also National Truck Driver Appreciation Week. Whatever the indices did, the trucks still moved the freight.
Elsewhere
- Feds warn truckers about Motus scam Land Line (OOIDA)
- Retail sales rise a better-than-expected 1.2% in August Transport Topics
- Trucking Market: Volumes UP, Diesel Soaring. Is Peak Here? FreightWaves
- Diesel prices surge past $6.28 per gallon Trucking Dive
- Oil prices steady as Saudi pipeline closure pressures supply Transport Topics
- Federal Reserve hikes interest rate for first time in 3 years Transport Topics
- J.B. Hunt flags Q3 cost pressures, shares sink 12% FreightWaves
Data behind this story
- Agricultural Transportation Open Data USDA Agricultural Marketing Service · Public domain (U.S. Government work)
- Producer Price Index U.S. Bureau of Labor Statistics · Public domain (U.S. Government work)
- Weekly Retail On-Highway Diesel Prices U.S. Energy Information Administration · Public domain (U.S. Government work)
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Where this sector stands today, with the full series and its history.