Hello! Welcome to the May 2024 freight rate and trucking update from Scale Funding. Here’s what’s happening out on the road.
DAT dot com’s May 19th Trendlines Report shows current national van rate averages are at $2.01 per mile, ¢2 more than the April average.
According to DAT, the highest average van rates are in the Midwest at $2.10 per mile. The lowest average van rates are in the East Coast at $1.74 per mile.
DAT reports the current national load-to-truck ratio is 4.93 loads-to-truck, compared to the April average of 3.54. Ratios are highest in the Southern states. The lowest ratios are in the Northern states.
Reefer freight rates are averaging $2.40 per mile, ¢7 lower than in April. Reefer rates are highest in the West, averaging $2.47 per mile. The lowest rates are in the Northeast, with an average of $1.90 per mile.
National reefer capacity is at 7.91 loads-to-truck, compared to the April average of 4.78 loads-to-truck. Current load-to-truck capacity shows reefer demand is highest in the Southern states. The Midwest and Northeast states have the lowest load-to-truck ratios.
National average flatbed rates are currently $2.53 per mile, ¢1 higher than the April average. The Southeast has the highest average flatbed rates at $2.67 per mile. The lowest rates are in the West, with an average of $2.27 per mile.
Nationally, load-to-truck ratios are at 19.40, compared to 18.51 in April. Load ratios are highest in the Southeast. The Midwest has the lowest load-to-truck ratios. For more details, visit Dat.com.
Checking fuel prices, the national average diesel price is $3.79 a gallon compared to $4.02 one month ago and is down ¢9 compared to one year ago.
East Coast diesel prices are averaging $3.90 per gallon. The average price in the Midwest is $3.69 per gallon. California diesel prices are averaging $5.05 per gallon.
Since 1994, Scale Funding has provided reliable cash flow to trucking companies through invoice factoring and accounts receivable financing. To learn more about Scale Funding and our factoring programs, give us a call at 800-707-4845 or visit www.getscalefunding.com.
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