Fuel-card refunds, record diesel and two carrier failures lead the freight week

Corpay, the fuel-card company formerly known as FleetCor, has agreed to a proposed $100 million settlement with the Federal Trade Commission over hidden fuel-card fees, with CEO Ronald Clarke named as well. The money is earmarked as redress for the business customers who were overcharged. If you run cards through that network, watch for the claim details when they land -- this is money owed back, not just a headline.

The settlement arrives in an expensive week for fuel. The national on-highway diesel average sits at $5.967 a gallon in the week to 7 September, up 6.6% on the prior week and 58% on the year, on U.S. Energy Information Administration figures. That is a retail pump average including taxes; fleets buying on contract pay less, and the gap widens when prices move fast, so read it as direction rather than what you will actually swipe for. The pressure has a supply cause: Transport Topics, citing Bloomberg estimates, reports the Iran war has now removed more diesel from the world market than the Russia-Ukraine conflict. Crude stayed choppy -- Brent touched nearly $110 early in the week before easing to $104.07 by 18 September.

The high-cost, soft-freight squeeze is showing up in failures. Two carriers filed for Chapter 11 in a single day: Xoco Transport of Hidalgo, Texas, which reported $2.2 million in assets against $3.3 million in liabilities, and Florida-based Expedite Express. Small books, but the direction matters for anyone hauling on thin margins.

There is freight coming, though. Asia-to-US container spot rates have blown past $11,000 and are near pandemic records, up more than 320% since late February, according to Xeneta data reported by FreightWaves. That volume lands at the ports and needs wheels inland, so dry van and drayage demand should feel it in the coming weeks.

On the border, Mexican truckers are seeking diplomatic talks after visa revocations tied to tighter cabotage enforcement, which became more visible after DOT shared three years of violation data with border authorities. If your lanes touch cross-border capacity, expect it to stay tight.