Truckload Rates Hit Two-Year Highs as Diesel Costs Surge

Rising Diesel Costs Drive Freight Rates Higher Across All Segments

Truckload freight rates have reached their highest levels in more than two years, driven largely by surging diesel prices and steady demand. According to DAT Freight & Analytics, both spot and contract rates increased significantly in March. However, much of this growth is tied to fuel cost recovery rather than stronger underlying pricing.

At the same time, freight volumes rose across all major equipment types. The DAT Truckload Volume Index (TVI) showed clear gains, reflecting seasonal demand from retail restocking, produce harvests, and construction activity.

Key volume increases include:

• Van TVI: 253, up 12% from February
• Reefer TVI: 196, up 7%
• Flatbed TVI: 314, up 18%

As a result, demand is improving, but pricing trends tell a more complex story.

Spot Rates Rise as Fuel Surcharges Spike

Spot rates increased across all equipment types in March. However, the main driver behind these gains was higher fuel surcharges rather than stronger freight demand.

Average spot rates reached:

• Van: $2.52 per mile, up 11 cents
• Reefer: $2.97 per mile, up 9 cents
• Flatbed: $3.09 per mile, up 37 cents

Year-over-year comparisons show even stronger growth. For example, van rates rose by 53 cents, reefer by 70 cents, and flatbed by 56 cents compared to March 2025.

Meanwhile, fuel surcharges surged sharply:

• Van fuel surcharge jumped from 41 to 61 cents per mile
• Reefer increased to 67 cents per mile
• Flatbed climbed to 73 cents per mile

Therefore, fuel costs are playing a major role in pushing overall rates higher.

Linehaul Rates Show Mixed Performance

Despite higher total rates, linehaul pricing—excluding fuel—revealed weaker trends in some segments. This indicates that demand has not fully caught up with rising costs.

• Van linehaul rates dropped by 9 cents
• Reefer linehaul rates declined by 13 cents
• Flatbed linehaul rates increased by 13 cents

As a result, carriers are still facing pressure on core pricing, especially in the van and reefer markets.

Contract Rates Also Move Higher

Contract rates followed a similar upward trend, largely influenced by fuel costs. As bid season continues, pricing strategies are adjusting to market volatility.

Average contract rates reached:

• Van: $2.72 per mile, up 20 cents
• Reefer: $3.10 per mile, up 22 cents
• Flatbed: $3.43 per mile, up 30 cents

However, industry experts emphasize the importance of flexibility. Many carriers are now pricing contracts based on expected market conditions rather than current rates. Therefore, they are leaving room for adjustments as fuel prices and demand shift.

Market Outlook Remains Uncertain

The combination of rising fuel costs and improving demand is creating a dynamic freight environment. While higher rates benefit carriers, increased fuel expenses are tightening margins.

In addition:

• Seasonal demand is supporting freight volumes
• Fuel volatility continues to impact pricing strategies
• Flatbed remains the strongest segment in both demand and pricing

Overall, the market is showing signs of recovery. However, ongoing fuel price fluctuations and uneven demand growth suggest that volatility will continue in the near term.

 

Source:

https://www.truckinginfo.com/news/truckload-rates-hit-two-year-highs-as-diesel-costs-surge-dat-says