Diesel Surge Pushes Freight Rates to 2-Year Peak in March

Key Details DAT reported that March truckload rates hit their highest levels in over two years, driven primarily by surging diesel costs and strong early-season freight demand. Spot rates climbed across all equipment types, with van rates up 53 cents year-over-year, reefer up 70 cents, and flatbed up 56 cents compared to March 2025. Why It Matters Fuel surcharges jumped dramatically in March, with average van fuel surcharges reaching 61 cents per mile - the highest since late 2022. This represents a 50% increase from the 40-cent baseline seen throughout most of 2025. Reefer and flatbed surcharges hit 67 and 73 cents per mile respectively. The Real Story While headline rates look strong, underlying linehaul pricing tells a different story. Van and reefer linehaul rates actually declined month-over-month by 9 and 13 cents, indicating demand hasn't fully caught up with capacity. Ken Adamo, DAT chief of analytics, noted that linehaul pressure suggests the market still has room to cool. What's Next As bid season approaches, industry experts recommend pricing contracts based on expected market conditions rather than current volatility. Transparency about pricing assumptions and flexibility for adjustments will help carriers navigate continued fuel price swings.