U.S. diesel averages $6.20 a gallon as freight rates beat nine‑year norms
U.S. on‑highway diesel averaged $6.20 a gallon on Oct. 5, down from $6.38 a week earlier according to the Energy Information Administration. For the week beginning Sept. 13, national spot freight rates were 20% above nine‑year seasonal averages for dry vans, 28% for refrigerated trailers and 25% for flatbeds, per DAT data reported by Trucking Dive. Trailer orders climbed to 24,144 units in August, a 43% jump from July, according to FTR data cited by Trucking Dive.
Dry van rates slipped three cents to $2.17 per mile while refrigerated rates gained two cents to $2.73 and flatbed rates fell two cents to $2.60 nationally, even as bellwether state rates rose six cents. Loads posted on DAT One rose 16% to 2.9 million during the week of Sept. 13, outpacing an 8% increase in truck postings and pushing load‑to‑truck ratios higher across all major equipment types. North Dakota’s Sept. 29 emergency order lets agricultural vehicles use tax‑free red‑dyed diesel on public roads, potentially saving eligible users 19 cents a gallon in state taxes through Nov. 30, while Texas has eased similar restrictions. Load‑to‑truck ratios increased for dry van, refrigerated and flatbed segments, but the holiday‑shortened prior week clouds whether the rise signals a lasting trend.
“It is a help, but it is not a solution,” Cherri Harris, CEO and owner of Swint Logistics Group said.
“energy prices are likely to stay elevated until shipping through the Strait of Hormuz becomes more predictable and more refining capacity returns,” Eimear Bonner, CFO of Chevron said.
Although diesel prices have slipped recently, freight expenses continue to squeeze finance teams. Freight rates still sit above their typical seasonal norms. A proposed Oct. 1 trucker work stoppage has added further uncertainty to an already tight freight market.
What we know
U.S. on‑highway diesel averaged $6.20 a gallon on Oct. 5
For the week beginning Sept. 13, national spot rates were 20% above nine‑year averages for dry vans, 28% for refrigerated trailers and 25% for flatbeds
Trailer orders reached 24,144 units in August, up 43% from July
North Dakota’s emergency order could save eligible users 19 cents a gallon in state taxes through Nov. 30
Chevron CFO Eimear Bonner spoke at a Wall Street Journal event on Sept. 22 and said energy prices likely to stay elevated until shipping through the Strait of Hormuz becomes more predictable and more refining capacity returns