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Diesel prices, which were $5.31 per gallon compared with $3.73 a year earlier, are a major reason contract freight rates rose about 22 cents per mile year over year. Roughly 90% of loads now move under contract rather than on the spot market.
Analysts say carriers are passing fuel surcharges on to shippers.
High diesel costs raise the cost of moving feed ingredients and finished feed by truck. The price implication is bullish for diesel, and freight rates remain elevated.
fleetowner.comCristina CommendatoreNov 18, 2022After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
