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March 2024 Freight Rate & Trucking Update

Current Freight Rates – March 2024

March 10, 2024

Factoring for Trucking Companies

Trucking News – US Freight Rates

March 12, 2024 – Courtesy of DAT Trendlines 

March 2024 Freight Rates

Mar 04 – Mar 10 vs. Feb 26 – Mar 03 Feb 2024 vs. Jan 2023 Feb 2024 vs. Feb 2023
Spot Market Loads +9.3% -28.2% -11.9%
Spot Market Capacity +9.6% +5.0% -2.1%
Van Load-To-Truck -7.5% -41.1% -8.5%
Van Rates (Spot) -1.1% -3.8% -8.6%
Flatbed Load-To-Truck +5.7% +2.5% -15.8%
Flatbed Rates (Spot) +0.0% +0.4% -8.4%
Reefer Load-To-Truck +5.6% -45.4% -9.1%
Reefer Rates (Spot) -1.5% -5.8% -6.8%
Fuel Prices -0.9% +4.9% -8.4%

Van Freight Rates – March 12, 2024

DAT.com’s March 10th Trendlines Report shows current national van rate averages are at $2.01 per mile, ¢5 lower than the February average.

According to DAT, the highest average van rates are in the Midwest at $2.28 per mile. The lowest average van rates are in the East Coast at $1.89 per mile.

DAT reports the current national load-to-truck ratio is 2.74 loads-to-truck, compared to the February average of 2.82. Ratios are highest in the East Coast states. The lowest ratios are in the North and West Coast states.

Average van freight rates as of March 12, 2024

Reefer Freight Rates – March 12, 2024

Reefer freight rates are averaging $2.33 per mile, ¢9 lower than in February. Reefer rates are highest in the Midwest, averaging $2.71 per mile. The lowest rates are in the Northeast, with an average of $2.15 per mile.

National reefer capacity is at 4.54 loads-to-truck, compared to the February average of 4.44 loads-to-truck.

Current load-to-truck capacity shows reefer demand is highest in the Southern states. The Midwest states have the lowest load-to-truck ratios.

Average reefer freight rates by region as of March 12, 2024.

Flatbed Freight Rates – March 12, 2024

National average flatbed rates are currently $2.49 per mile, ¢1 higher than the February average.

The Midwest has the highest average flatbed rates at $2.72 per mile. The lowest rates are in the West, with an average of $2.18 per mile.

Nationally, load-to-truck ratios are at 16.93, compared to 13.65 in February. Load ratios are highest in the Southeast. The Southwest has the lowest load-to-truck ratios. For more details, visit Dat.com.

Average flatbed freight rates in the US as of March 12, 2024.

*Diesel fuel price map as of March 12, 2024.

Checking fuel prices, the national average diesel price is $4.00 a gallon compared to $4.11 one month ago and is down ¢24 compared to one year ago.

East Coast diesel prices are averaging $4.12 per gallon. The average price in the Midwest is $3.91 per gallon. California diesel prices are averaging $5.21 per gallon.

Average US diesel fuel prices as of March 12, 2024

Change from
2/26/24 3/04/24 3/11/24 Week Ago Year Ago
US 4.058 4.022 4.004 -0.018 -0.243
East Coast (PADD 1) 4.185 4.151 4.120 -0.031 -0.240
New England (PADD 1A) 4.314 4.296 4.287 -0.009 -0.444
Central Atlantic (PADD 1B) 4.324 4.311 4.309 -0.002 -0.390
Lower Atlantic (PADD 1C) 4.120 4.077 4.033 -0.044 -0.163
Midwest (PADD 2) 3.961 3.919 3.913 -0.006 -0.181
Gulf Coast (PADD 3) 3.768 3.731 3.702 -0.029 -0.296
Rocky Mountain (PADD 4) 3.999 4.006 3.992 -0.014 -0.439
West Coast (PADD 5) 4.692 4.653 4.651 -0.002 -0.247
West Coast less California 4.227 4.152 4.166 +0.014 -0.372
California 5.225 5.228 5.207 -0.021 -0.105

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