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Trucking Industry News & Information
Read the Latest on What's Happening in Trucking Across the US

US Trucking News & Information

TCI Business Capital is pleased to present the latest trucking news & information for the US freight industry. The news and information are compiled from a variety of sources across the web.

Trucking News – US Diesel Fuel Prices

Courtesy of US Energy Information Agency

Average diesel fuel prices in the US as of June 30 2020

 

 

Change from
06/15/20 06/22/20 06/29/20 Week Ago Year Ago
US 2.403 2.425 2.430 +0.005 -0.612
East Coast (PADD 1) 2.501 2.515 2.524 +0.009 -0.556
New England (PADD 1A) 2.628 2.631 2.648 +0.017 -0.487
Central Atlantic (PADD 1B) 2.673 2.694 2.704 +0.010 -0.566
Lower Atlantic (PADD 1C) 2.359 2.370 2.377 +0.007 -0.564
Midwest (PADD 2) 2.256 2.289 2.299 +0.010 -0.625
Gulf Coast (PADD 3) 2.174 2.197 2.194 -0.003 -0.609
Rocky Mountain (PADD 4) 2.346 2.353 2.343 -0.010 -0.655
West Coast (PADD 5) 2.930 2.945 2.948 +0.003 -0.680
West Coast less California 2.579 2.591 2.586 -0.005 -0.619
California 3.218 3.237 3.246 +0.009 -0.717

Trucking News – US Freight Rates

June 16, 2020 – Courtesy of DAT Trendlines 

Average van rates as of June 16 2020

 

Van Rates – Source Dat.com

Average reefer freight rates as of June 16 2020

 

Reefer Rates – Source Dat.com

Average flatbed freight rates in the United States as of June 16 2020

 

Flatbed Rates – Source Dat.com

Freight Trends and News:

June 2020 Freight Trends

The trucking and freight market is continuing to improve according to Freightwaves.com. Their most recent weekly Outbound Tender Volume Index shows a 23 percent increase of van loads over the last month. Freightwaves reports produce loads increased by seven percent. Nine of the 15 markets tracked by Freightwaves show positive increases in load volume. The west coast sticks out as an area of poor load volume.

The Cass Transportation Index published on June 15th reports May shipment volumes rebounded from the April drop. Year over year comparisons show a 23.6 percent drop in May 2020 compared to May 2019. The Cass Truckload Linehaul Index shows May rates posted a 5 percent drop year over year. This drop was less than the 7 percent number in April.

DAT.com’s most recent trend lines report is showing van rates at a low for the year.  The report shows national van rate average spot rate are at $1.75 per mile, a $.15 increase from the May average. According to DAT, the West has the highest average van rates at $1.85 per mile, and the lowest average rates are in the Northeast at $1.41 per mile. According to DAT, load-to-truck ratios are highest in the southern half of the country, and lowest in the Northwest.

Reefer freight rates are averaging $2.10 per mile, an eight cent increase from the May average. Reefer rates are highest in the West at $2.39 per mile, and the lowest rates are in the Northeast, with an average of $1.57 per mile. Current load-to-truck capacity shows reefer demand is highest in the Southwest and lowest in the Northeast.

National average flatbed rates are at $2.02 per mile, a $.12 increase from the May average. The highest average flatbed rates are in the Midwest at $2.09 per mile, and the lowest rates are in the Northeast, with an average of $1.81 per mile. Load-to-truck ratios are highest in the Northwest and Southeast, and lowest through the rust-belt states. For more details, visit Dat.com.

Turning to fuel prices, the latest Energy Information Administration data shows the national average diesel price is at $2.40 per gallon. Regional diesel prices range from an average of $2.17 in the gulf coast states to $2.67 in the central Atlantic region. California diesel prices are averaging $3.22 per gallon.

 

June 2020 Freight Rates

June 8 – 14 vs June 1 – 7 May 2020 vs April 2020 May 2020 vs May 2019
Spot Market Loads +6.5%
+79.6% -8.5%
Spot Market Capacity -0.9% -11.8% -9.0%
Van Load-To-Truck +9.1% +94.3% +8.0%
Van Rates (Spot) +2.1% -2.2% -11.0%
Flatbed Load-To-Truck +0.6% +134.4% -1.9%
Flatbed Rates (Spot) +1.3% -1.6% -16.3%
Reefer Load-To-Truck +9.5% +77.1% +77.0%
Reefer Rates (Spot) -0.2% +4.9% -5.9%
Fuel Prices +0.4% -4.1% -24.3%

For more information on DAT products & service visit DAT.com

Trucking and Freight Factoring With TCI Business Capital

Trucking and freight factoring is a type of financing commonly used by fleet owners to improve their cash flow. Factoring is simply the converting or selling of open receivables to a factoring company for immediate cash. Companies using invoice factoring have consistent cash to use towards fuel, payroll, maintenance, and more.

TCI Business Capital has been a leader in trucking and freight factoring since 1994. From the knowledge and experience built up from years of serving clients in the trucking industry, TCI Business Capital offers customized factoring solutions for each client. For more information on our factoring programs, fill out the form on our website or call (800) 707-4845.