Freight indices slipped in July while diesel held above $5.45
Cross-border drivers pick up extra Saturday hours at Laredo from 5 September, and reefer demand stayed firm even as the produce average eased to $4.14 a mile.
Diesel is still the number that moves the wallet. The national on-highway average sat at $5.454 a gallon in the week to 17 August, up 3.7% on the week, according to the Energy Information Administration. That is a retail pump average including tax, and fleets buying on contract pay less, so read it as direction rather than as your receipt. FreightWaves argues the pressure is a refining problem, not a crude problem, and Transport Topics reports U.S. diesel stockpiles have fallen to a record seasonal low, which is the supply side of the same story.
Where you fill still matters more than when. California pumps averaged $6.785 a gallon while the Lower Atlantic averaged $5.204, about $1.58 a gallon apart. If your lane gives you a choice of where to tank, that gap is real money.
The July freight indices came in soft across the board. On the Bureau of Labor Statistics producer price index, long-distance dry van fell 1.3% for the month, specialized and flatbed 1.2%, and less-than-truckload 4.6%, the steepest of the group. These are indices, not dollars per mile: they track change from a base period and blend contract with spot business, so they turn later and more gently than the spot market. The direction in July was down.
Refrigerated produce moved on its own weekly clock: the national produce reefer average was $4.14 a mile in the week to 18 August, down 1.0%. That average is produce-only and unweighted across whatever lanes ran, so the lane table tells you more than the mean. The demand signal held up, though: FreightWaves notes reefer tender rejections are still running hot while van and flatbed cool, with intermodal now roughly a third cheaper than truckload and pulling dry freight off the road. If you run van, that mode shift is worth watching.
Two things you can act on this week. Cross-border drivers get more room at Laredo: The Trucker reports the World Trade Bridge extends its Saturday operational hours from 5 September, which is throughput you can plan around. And OOIDA's Land Line flags that the FMCSA broker transparency proposal is now nearly two months past its target date and still has not dropped, a fight owner-operators have been waiting on for years.
Some plainly good news: Land Line reports fewer than 6% of drivers were placed out of service in this year's International Roadcheck, a clean pass for the fleet. On the equipment side, The Trucker reports Einride plans to deploy 500 Tesla Semis across North America, and FreightWaves makes the case that a $150 parking space near a driver's home is becoming a real retention perk. The rate cycle is soft; the ground-level moves are where the week's decisions actually live.
Elsewhere
- Diesel Prices: It's a Refining Crisis, Not Crude FreightWaves
- U.S. diesel stockpile falls to record seasonal low Transport Topics
- Laredo Port of Entry extends Saturday operational hours for World Trade Bridge The Trucker
- Still waiting: Broker transparency proposal yet to drop Land Line (OOIDA)
- Reefer Rejections Stay Hot as Intermodal Wins 33% FreightWaves
- Less than 6% of drivers placed out of service during International Roadcheck Land Line (OOIDA)
- Einride to deploy 500 Tesla Semis across North America The Trucker
- For trucking fleets, a place to park may be the next driver perk 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.