On Tuesday, this week, the price of diesel fuel on the CME commodity exchange rose 21.98 cents per gallon, which is the largest single day increase since early June 2008. The US Department of Energy reports that the national average price of diesel at the pump jumped $0.75 cents in the first week of March, up a total of $1.71 from one year ago. These high fuel rates come at a time when trucking market capacity is already strained with high demand levels. With the existing market conditions, truckers are in a favorable position to pass on charges and secure rates high enough to offset the rising costs of fuel. Noatum has received notification from our trucking partners nationwide to expect rate increases in the coming weeks and effective immediately in some markets.

Sources:
https://www.freightwaves.com/news/surging-diesel-prices-lag-in-fuel-surcharges-starting-to-raise-concern
https://www.eia.gov/petroleum/gasdiesel/

If you have any questions, please contact your local Noatum Logistics representative.