Market Updates: June 11th, 2024

Domestic Market Updates –

  • Rates and Capacity: it’s produce season, which means rates are increasing, especially in the Southeast, impacting capacity.

  • Diesel update: As of June 10th, the average price of diesel was $3.658 a gallon. Seeing a 6.8 cent decrease from last week, per the EIA.

  • Equipment: Class 8 net truck orders see a robust May, preliminary data shows. Data from both FTR and ACT Research show orders up both month-over-month and year-over-year.

    Specifically, FTR data shows class 8 net orders at 18,900 units in May, an increase of 25% from April and a 37% increase y-o-y. While ACT data shows 23,200 units in May, an increase of 46% from April and a 49% increase y-o-y.

    Read more about this here.

  • Regulation: The proposed congestion fee toll in New York, that was set to go into effect at the end of June, has been paused, per NY governor’s orders. Check out our blog about the details of this once proposed plan.

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