A Trucking Golden Age?
Trucking spot rates hit the highest levels since early March 2022, before the Great Freight Recession was on anyone's mind and + $.15/mile in the past week.
The spot rate surge is happening in the background of weakening diesel prices ($-.97/gallon on wholesale) since April 8th ($.14/mile).
The drop in diesel + surging spot rates will tremendous for motor carriers that operate in the spot market, as they will experience significant increases in cash flow.
With demand expected to firm over the coming months, but little capacity coming in to relieve tight markets, trucking could be entering a Golden Age - a long sustained period of high demand, high rates, and stable costs.