Every month, we’ll be sharing some of the top stories in logistics and transportation right here in our blog. Here’s a look at some of the top industry stories making headlines in March.
Once the current ag waiver expired on March 18, the Federal Motor Carrier Safety Administration (FMCSA) has announced an additional 90-day extension from the ELD rule for agricultural related transportation. This waiver will allow for continued outreach and communication with the ag community to assure the fullest understanding of the ELD ruling and requirements. Read more about the waiver here.
The U.S. average price of diesel fell 1.6 cents to $2.976, declining as the price of a barrel of crude slipped to $61. This marks the fifth consecutive drop or diesel, with prices falling 11 cents a gallon since the beginning of February. The national average price for regular gasoline dropped 0.1 cent to $2.559 a gallon with the average 23.6 cents higher than it was a year ago. Read more here.
Flatbed load-to-truck ratio hit a new record in March, along with load availability and rates making big gains. The number of flatbed loads posts increased 10.8% while truck posts dipped 1% compared to the first week of March. Houston was the largest market for outbound flatbed freight, with the number of available loads increasing to 11.4% and the average outbound rate up 6 cents to $2.70 per mile. Read more about spot rates here
As of March 15, Congress has not come any closer to resolving key funding questions about President Trump’s $1.5 trillion infrastructure plan. Transportation Secretary Elaine Chao, reminded senators on the Commerce Committee that “everything is on the table” when it comes to the initiative’s direct federal funding. Bipartisan support remains a priority, however, members of the Commerce Committee struggle to envision a source of the$200 billion direct federal funds that the White House is proposing to use. Read more about funding for the infrastructure plan here.
Load-to-truck ratios kept their balance the second week of March. The number of loads on DAT load boards slipped 1.2 percent last week and truck posts increased 2 percent. National average rates for Van, flatbed, and reefer were all unchanged. Even though the spot market may seem to be on a plateau, it’s higher than compared to a year ago. To read more about spot market here.
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