BLOOMINGTON, Ind. — The reversal of fuel cost relief in July was primarily responsible for a deterioration in FTR’s Shippers Index to -8.1 from June’s -5.4 reading.
“There’s nothing positive for shippers in the near term as freight-related factors – especially rates and utilization – are still unfavorable and diesel prices have surged to a record level – far surpassing the 2022 peak,” said Avery Vise, FTR’s vice president of trucking. “Very high fuel costs could help loosen the truck freight market over the next few quarters, although other factors would need to align to produce that result. That outcome isn’t the safest bet, but it bears watching.”
More stable freight rates partially offset that unfavorable shift while the contributions from capacity utilization and volume did not change much. Soaring diesel prices in August and September will push the SCI deeper into negative territory once the data is finalized.
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.
