Spot Market Results: Fuel Costs Erase Van Rate Gains

Spot Market Van Rates Rise as Diesel Costs Surge

Broker-posted dry van and refrigerated rates increased during the week ending September 11. However, rapidly rising diesel prices reduced the value of those gains for carriers.  The latest spot market report from FTR Transportation Intelligence and Truckstop showed a sharp decline in load activity during the Labor Day holiday week. Dry van and refrigerated rates moved higher, while flatbed rates returned to their recent downward trend.

The total broker-posted rate decreased 1.7 cents to $3.21 per mile. After adjusting the rate to account for fuel costs, the weekly decrease was much larger.

Spot Market Load Activity Falls During Holiday Week

The Truckstop load-activity index fell to 127 during week 36. That represented a 15.2% decrease from the previous week.

Labor Day was the main reason for the decline. Holidays reduce the number of working days available for shippers, brokers and carriers to post and move loads.

Truck postings also fell 7.1%. Because load activity declined faster than available truck capacity, the Market Demand Index dropped to its lowest level of 2026. The index measures the number of available loads compared with posted trucks.

Total load activity was approximately 12% lower than during the same week in 2025. However, FTR cautioned that the annual comparison is distorted by the calendar. Labor Day occurred nearly one week earlier in 2025.

That difference means the two reporting weeks did not contain the same number of normal business days. The annual decline should not be viewed as a clear measure of changing freight demand.

Higher Diesel Prices Pressure Spot Market Rates

The total broker-posted rate fell 1.7 cents to $3.21 per mile. It remained approximately 39% higher than during the comparable 2025 week.

That large annual increase does not tell the entire story. Fuel costs have risen sharply and are consuming more of the revenue included in each rate.

FTR calculates a fuel-adjusted rate to estimate the portion remaining after accounting for diesel. This calculation does not mean spot carriers automatically receive a separate fuel surcharge. Instead, it estimates how much of an all-in rate may be needed to recover fuel expenses.

Fuel-adjusted rates fell approximately 7 cents during the week. They were also nearly 36% below the same period in 2025.

The calculation used the U.S. Energy Information Administration’s weekly diesel average of $5.967 per gallon for the week ending September 7. AAA reported a national average slightly above $6.23 on September 14, according to FTR.

As a result, even equipment categories that recorded higher posted rates may have experienced lower returns after fuel expenses.

Dry Van Spot Market Rates Increase

Dry van spot rates increased 5.5 cents to $2.77 per mile. Rates were approximately 43% higher than during the same 2025 week.

FTR noted that the annual comparison was the strongest in seven weeks. However, the different Labor Day timing affected that result.

Dry van rates declined slightly in the Southeast. They increased in the other regions, with the largest gains occurring in the Midwest and Northeast.

Dry van load postings fell 19.1% from the previous week. That was the largest weekly load decline among the three major equipment types.

Volume remained 1% higher than during the comparable 2025 week. Load activity decreased substantially across every region because the reporting period included Labor Day.

The weekly rate increase suggests that holiday-related capacity needs provided some support despite fewer posted loads. Rising diesel expenses, however, reduced the practical benefit of the 5.5-cent gain.

Refrigerated Rates Record a Smaller Gain

Refrigerated spot rates increased 2.7 cents to $3.63 per mile. It was the smallest weekly increase for reefer equipment in four weeks.

Rates were nearly 48% higher than during the same week last year. That was the strongest annual comparison in 14 weeks, although the Labor Day calendar difference again distorted the result.

Regional changes were mixed. Refrigerated rates fell in the Northeast and South Central regions. They were nearly unchanged in the Southwest and increased elsewhere.

Refrigerated load postings declined 18.6% during the holiday week. Volume was still approximately 14% higher than during the comparable 2025 period.

The continued rate increase provided some support for refrigerated carriers. However, higher fuel expenses remained an important concern because temperature-controlled equipment can add to operating costs.

Flatbed Spot Market Rates Resume Their Decline

Flatbed spot rates decreased 5.7 cents to $3.26 per mile.

The decline came one week after flatbed rates recorded their first increase in 12 weeks. The latest result returned the segment to the downward pattern that had dominated the summer.

Flatbed rates remained 29% higher than during the same 2025 week. That was the weakest annual comparison in 16 weeks.

Rates increased slightly in the Northeast but declined modestly across every other region.

Flatbed load activity fell 11.8% from the previous week. Volume was approximately 20% below the comparable 2025 week, producing the first negative annual comparison of 2026.

Labor Day timing affected the annual load comparison. However, FTR noted that the holiday typically has less influence on flatbed rates than on dry van and refrigerated rates.

Fuel Recovery Could Shape the Next Rate Changes

The weeks immediately following Labor Day are typically soft across the major spot market equipment categories. Freight activity often slows before seasonal demand begins building again later in the year.

This year’s fuel-price surge could alter the usual pattern. Carriers may seek higher rates or decline loads that do not cover their operating expenses. Brokers and shippers may also face pressure to account for diesel increases when negotiating rates.

Dry van and refrigerated rates rose during the latest week, but the gains were not enough to offset higher fuel costs. Flatbed carriers faced pressure from both falling rates and weaker load activity.

The next several reports will help show whether rates begin reflecting the higher cost of diesel or continue following their typical post-Labor Day decline.