Spot truckload rates have held flat for two months at approximately $3.47 per mile, sitting roughly 48% higher than at this time last year, but as peak-season freight enters the market, carriers retain the leverage while shipping volumes build.
DAT Freight & Analytics reported that the national average spot-market rate for dry van truckload freight rose to $3.05 a mile in October, marking its highest monthly average since February 2022, even as fuel costs eased slightly.
National average spot rates across major equipment types reflect continued elevation, staying about 45% higher year-over-year:
- Dry van: $3.05 per mile, up 4 cents from September and 98 cents higher than a year ago.
- Refrigerated: $3.60 per mile, down 2 cents from September but up $1.12 year-over-year.
- Flatbed: $3.61 per mile, unchanged from September and up $1.10 year-over-year.
TRAFFIX data shows tender rejections eased to 12.9%, down from earlier peaks but still well above the 6.2% recorded a year ago. Meanwhile, truckload volumes increased about 4.7% over a recent two-week window as peak-season demand ramps up.
DAT Principal Analyst Dean Croke, noted that equipment posts on platforms like DAT One are running roughly 22% to 26% below last year depending on equipment type.
"Brokers moved fewer loads than a year ago and paid carriers about a dollar a mile more to move them last month," Croke said. "While fuel and other operating costs are high, carriers are heading into the holiday freight season in a position to be selective and negotiate better rates."
Fuel costs remain a contributor to transportation expenses. The U.S. Energy Information Administration reported the national average on-highway diesel price at approximately $6.25 a gallon in October, down slightly from $6.29 in September, but still roughly $2.60 higher than the same period last year. For a standard tractor and van trailer traveling 500 miles a day at 6 miles per gallon, fuel costs averaged about $521 daily in October, compared to $310 in February.
Contract rates are also climbing as shippers scramble to lock in capacity. DAT reported that contract rates for vans rose 4 cents to $3.28 a mile, matching a record set in May 2022, while reefer ($3.62) and flatbed ($4.05) contract rates continued setting new records.
With elevated diesel and contract expenses compounding pressure on corporate budgets, logistics experts recommend that shippers protect essential lanes before holiday freight peaks, evaluate alternative options like intermodal or shared truckloads for less time-sensitive shipments, and focus pricing strategies strictly on lanes experiencing genuine capacity constraints.
