Spot Market Rates Hit Record High in Latest Week

Spot Market Hits Record High as Rates Stay Strong Across Freight Segments

The Spot Market reached another major milestone in the latest freight data, with total broker-posted rates climbing to the highest level recorded since tracking began in 2014. While dry van and refrigerated rates eased slightly during the week, strong flatbed performance pushed the total market higher. At the same time, upcoming roadside inspections in May could tighten capacity further and keep pressure on rates.

Spot Market Rates Reach New Record

For the week ending April 24 (Week 16), total broker-posted Spot Market rates increased by 3.4 cents per mile to $3.26, marking the highest all-in weekly average ever recorded in the Truckstop.com system.

That increase was smaller than recent weekly jumps, but rates remain well above last year’s levels. Overall, all-in spot rates were nearly 30% higher than the same week in 2025. Rates excluding a calculated fuel surcharge were also up nearly 23% year over year.

Even so, analysts noted that when fuel surcharge calculations are removed, current rates still sit more than 20 cents below the peak levels seen in late 2021. However, they have remained the strongest since early 2022.

Load Activity Holds Steady

Load activity in the Spot Market moved slightly higher during the week. Total load postings increased 0.4% week over week, following a more than 4% drop in the previous week.

Compared with the same week last year, total spot loads were up 47%, driven mainly by strong flatbed demand.

Truck postings also increased by 3.2%, which pushed the Market Demand Index — the ratio of loads to available trucks — to its lowest point in seven weeks. That signals capacity loosened slightly, even as rates remained elevated.

Fuel Costs Continue to Shape the Spot Market

Higher diesel prices have played a major role in recent Spot Market pricing.

Using a conservative fuel economy estimate of 6 miles per gallon, analysts calculate that carriers saw fuel costs rise by roughly 25 cents per mile during the diesel surge that began in early March. Since then, national diesel prices have eased by more than 20 cents, helping some operations recover part of that added expense.

Dry van and refrigerated rates have both increased by about 25 cents per mile during that stretch, largely offsetting higher fuel costs. Flatbed, however, has far outpaced the other segments, rising nearly 66 cents per mile over the same period.

That sharp increase shows how much demand continues to favor open-deck freight.

International Roadcheck Could Push Spot Market Higher

Another factor could soon impact the Spot Market: the upcoming Commercial Vehicle Safety Alliance International Roadcheck, scheduled for May 12-14.

The annual inspection event typically reduces truck capacity because some drivers choose to stay off the road during the three-day enforcement blitz. This year, several factors could make the impact stronger, including tight equipment availability, older trucks on the road, and heightened inspection focus on driver qualifications and documentation.

As a result, analysts say spot rates may rise again in the weeks ahead, regardless of what happens with freight demand in the short term.

Dry Van Market Sees Rate Pullback

Dry van rates softened during the latest week, falling 4.5 cents per mile to $2.52.

Even with that decline, dry van rates remain about 37% above the same week last year. Excluding fuel surcharges, rates are nearly 29% higher year over year.

Dry van load volume dropped 5.7%, marking the fourth straight weekly decline. However, volume was still nearly 18% higher than the same period in 2025.

Regional trends were mostly weaker, with the largest declines seen in the Midwest and Northeast.

Refrigerated Spot Market Mixed as Southeast Improves

Refrigerated freight also posted a weekly decline, with reefer rates falling 6.4 cents per mile to $2.92.

Still, reefer rates remain about 34% higher than last year’s level.

Load volume increased 2.7%, ending a four-week losing streak. The Southeast and South Central regions posted strong gains, but overall refrigerated volume remained 12% below the same week in 2025.

That mixed picture suggests the produce season may be starting to support demand in warmer regions.

Flatbed Spot Market Remains the Strongest Segment

Flatbed continues to lead the Spot Market. Rates increased by nearly 5 cents per mile to $3.38, marking the 17th straight weekly increase. Over the past 23 weeks, flatbed rates have declined only once.

During that stretch, broker-posted flatbed rates have climbed by more than $1.09 per mile.

Flatbed load volume also rose 1.4% during the week and stood 69% higher than the same week in 2025.

With strong construction demand, industrial freight movement, and tight capacity, flatbed remains the strongest freight segment in the market.

Spot Market Outlook Remains Strong

While van rates showed modest weakness, the broader Spot Market remains historically strong. Record total rates, steady freight demand, and the approaching International Roadcheck event all point to continued volatility in the weeks ahead.

For now, flatbed remains the clear leader, while dry van and refrigerated freight continue operating at levels well above last year’s market.