PORTLAND, Ore. — Truckload freight volumes eased slightly in February but remained firm on a daily basis, while spot market van and refrigerated rates increased for the seventh straight month, according to DAT Freight & Analytics.
DAT Truckload Volume Index
The DAT Truckload Volume Index (TVI), an indicator of trucking industry trends and demand for truckload services, was lower across all three freight segments:
- Van TVI: 210, down 5% compared to January.
- Reefer TVI: 173, down 7%.
- Flatbed TVI: 256, down 1%.
The declines in van and reefer TVI were less than the expected drop due to the shorter month, suggesting the daily average freight volume actually rose in February compared to January for those two equipment segments. The negligible drop in flatbed TVI also indicates a stable or slightly higher average daily volume.
Volumes were lower year over year, however. Compared with February 2025, the TVI was down approximately 6% across all three freight categories.
Rates: Gaining Since August
National average spot and contract rates increased month over month as truckload capacity tightened:
- Spot van rate: $2.41 per mile, up 9 cents from January.
- Spot reefer rate: $2.88 per mile, up 7 cents.
- Spot flatbed rate: $2.72 per mile, up 14 cents.
Three winter storms—Fern, Gianna, and Ezra—disrupted freight networks across the eastern U.S. in February, tightening available truckload capacity and amplifying spot-rate gains. The storms accelerated a trend that was already underway: spot van and reefer rates had been climbing steadily since August, when the van rate averaged $2.03 per mile and the reefer rate was $2.41 per mile.
- Contract van rate: $2.52 per mile, up 4 cents month over month.
- Contract reefer rate: $2.89 per mile, up 8 cents.
- Contract flatbed rate: $3.13 per mile, up 12 cents
The spread between spot and contract van rates narrowed to its smallest gap since March 2022, signaling that freight demand and available truck capacity are moving toward balance.
Fuel: Spiking Costs Add to Uncertainty
Diesel prices added a wrinkle to February’s rate story. The national average price for on-highway diesel rose to $3.71 per gallon in February, up roughly 6% from January and about 1% above February 2025. That uptick is reflected in fuel surcharges: the average van fuel surcharge climbed to 41 cents per mile in February, up from 38 cents in January.
Unlike most loads moving under contract, spot rates are negotiated as an “all-in rate” between the freight broker and carrier. There is no separate fuel surcharge to adjust for fluctuations in diesel prices. Because spot loads are one-time transactions booked close to the pickup date, the rate should already reflect current fuel prices.
Driven by escalating conflict in the Middle East, retail diesel prices have surged since the end of February, compounding an already tightening cost environment for carriers.
“Without fuel hedging, contract pricing, or surcharges, carriers will need to negotiate higher spot rates now to compensate for higher pump prices,” said Ken Adamo, DAT chief of analytics. “Otherwise, more carrier exits are likely—which, paradoxically, could accelerate the supply-side market recovery.”
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
