Spot Rates Surge to 2-Year Peak as Diesel Costs Spike in March

Key Details DAT Freight & Analytics reported truckload spot rates hitting two-year highs in March, driven primarily by surging diesel fuel costs. Van rates climbed 11 cents to $2.52 per mile, reefer increased 9 cents to $2.97 per mile, and flatbed jumped 37 cents to $3.09 per mile. Fuel surcharges averaged 60 cents per mile in March, representing a 50% spike from the 2025 baseline of 40 cents per mile. Why It Matters Carriers gained significant pricing power as fuel costs built pressure throughout the month. Despite increased volumes across all freight types, linehaul rates remained under pressure, signaling demand hasn't fully recovered yet. Shippers facing elevated spot rates are experiencing routing guide compliance issues, forcing greater reliance on the spot market. Market Outlook Arrival Logistics VP David Spencer highlighted a constrained supply environment with minimal downward pressure on rates. The end-quarter push created heightened urgency among shippers and increased willingness to pay. While elevated rates are keeping the rate floor firm, frequency of peak pricing may decline as shippers exhaust their budgets. The market stress signals remain the strongest since 2021, with transportation pricing showing significant tightness across all major modes.