Market Updates: Mar. 26th, 2024

Congestion –

The Total Solar Eclipse is expected to bring in lots of traffic and with that comes the potential of lengthy traffic jams.

Some state transportation officials are advising truckers to consider staying off the roads on April 8th or 9th, when the eclipse will stretch from Texas to Maine.

The Arkansas Deportment of Transportation expects 1.5 million people to travel to Arkansas to catch a view, plus an additional 500,000 locals are predicted to travel from their homes to take part in viewing the eclipse. Their DOT says traffic could be so significant “that the day may be mostly unproductive for freight vehicles,” and they should ask truckers to take a “voluntary holiday.” 

Trucking –

  • As of March 25th, the national average price of diesel was $4.034 a gallon.
    • Up slightly at six-tenths of a cent from the previous week.
  • Minnesota plans to add 16 more truck parking spots along I-94

Rail –

  • Members on the transportation committee in the U.S. House are looking to their colleagues to help advance rail safety actions.
  • This comes as efforts to pass the Railway Safety Act continues, read more here.
  • Federal Transit Administration opening public comment – till May 24th – on a proposed rule to improve rail transit worker safety.
  • Port of Vancouver has been dealing with some rail container backlogs for a couple months.
    • While some improvements have been made in recent weeks, it’s likely that it will take some time for the backlog to clear.
  • BNSF is also working through some rail container backlog in Southern California.
    • This is largely due to the increase of container volume on the USWC, as less volume has been going through the Panama Canal.
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