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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 March 30 2020

 

 

Change from
03/16/20 03/23/20 03/30/20 Week Ago Year Ago
US 2.733 2.659 2.586 -0.073 -0.492
East Coast (PADD 1) 2.789 2.724 2.671 -0.053 -0.456
New England (PADD 1A) 2.918 2.849 2.793 -0.056 -0.403
Central Atlantic (PADD 1B) 2.989 2.911 2.514 -0.045 -0.443
Lower Atlantic (PADD 1C) 2.627 2.573 2.573 -0.059 -0.477
Midwest (PADD 2) 2.591 2.499 2.432 -0.067 -0.552
Gulf Coast (PADD 3) 2.504 2.438 2.363 -0.075 -0.509
Rocky Mountain (PADD 4) 2.742 2.680 2.592 -0.088 -0.415
West Coast (PADD 5) 3.322 3.248 3.126 -0.122 -0.415
West Coast less California 2.954 2.879 2.798 -0.081 -0.355
California 3.625 3.552 3.395 -0.157 -0.454

Trucking News – US Freight Rates

March 16, 2020 – Courtesy of DAT Trendlines 

Average van freight rates as of March 16 2020

 

Van Rates – Source Dat.com

Average US reefer freight rates as of March 16 2020

 

Reefer Rates – Source Dat.com

Average flatbed freight rates in the United States as of February 10 2020

 

Flatbed Rates – Source Dat.com

Freight Trends and News:

March 2020 Freight Trends

March 19, 2020 –

 

The four major elements affecting the trucking market show inbound container shipments are down. Load volume is up. Truck capacity is steady, and fuel prices are down.

The impact of Coronavirus is being felt right away in the trucking market. Freightwaves.com has published its weekly Outbound Tender Volume Index, and it is at its highest level since tracking began three years ago. Of the two components of the OTVI, Van volumes have shown the most growth, due to the panic buying of paper products and food staples. Reefer volumes are up as well, but not to the extent of van volumes.

Freightwaves tracks outbound tender volume in 15 markets. 12 of the 15 showed positive gains week over week. Miami, Seattle, and Fresno had the largest gains. Savannah, GA, Laredo, TX, and Houston saw declines. For additional details on the Outbound Tender Volume Index, visit freightwaves.com.

DAT.com’s latest trend lines report is showing rates are creeping up compared to February.  The report shows national van rate averages are at $1.82 per mile, up three cents from the February average. According to DAT, the Midwest has the highest average van rates at $2.03 per mile, and the lowest average rates are in the Northeast at $1.64 per mile. Load-to-truck ratios are highest in the Southeast and lowest in the Southwest.

Reefer freight rates are averaging $2.11 per mile, a two-cent increase from one month ago. Midwest reefer rates are highest at $2.45 per mile, and lowest in the Northeast, with an average of $1.88 per mile. Current load-to-truck capacity shows reefer demand is highest through the middle of the country and lowest in the Southwest, according to DAT.

National average flatbed rates are at $2.20 per mile, a five-cent increase from the February average. The highest average flatbed rates are in the Midwest, at $2.41 per mile, and the lowest are in the West, with an average of $1.84 per mile. Load-to-truck ratios are strongest in the middle of the country and Southeast. The weakest ratios continue to be in the Southwest. For more details, visit Dat.com.

Turning to fuel prices, the latest Energy Information Administration data shows the national average diesel price is at $2.73 per gallon. Regional diesel prices range from an average of $2.50 in the gulf coast states to $2.99 in the central Atlantic region. California diesel prices are averaging $3.63 per gallon.

March 2020 Freight Rates

Mar 09 – Mar 15 vs Mar 02 – Mar 03 Feb 2020 vs Jan 2020 Feb 2020 vs Feb 2019
Spot Market Loads +18.2%
-7.5% +13.4%
Spot Market Capacity -0.8% -2.8% +13.7%
Van Load-To-Truck +31.0% -16.5% -8.0%
Van Rates (Spot) +3.2% -4.5% -5.4%
Flatbed Load-To-Truck +7.4% +19.1% +6.2%
Flatbed Rates (Spot) +1.0% -1.0% -7.8%
Reefer Load-To-Truck +33.2% -26.8% +4.0%
Reefer Rates (Spot) +1.8% -6.4% -5.3%
Fuel Prices -1.3% -4.5% -2.9%

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.