Truckload rates rise in April, but gains driven largely by fuel costs: DAT

Truckload spot and contract freight rates in the U.S. climbed in April, but most of the increase was driven by higher fuel costs rather than stronger demand, according to DAT Freight & Analytics.

The company said its Truckload Volume Index (TVI) fell month over month across all equipment types, signalling softer freight activity despite higher rates.

Van TVI came in at 251, down three per cent from March but up two per cent year over year. Reefer TVI was 183, down nine per cent month over month and up one per cent year over year, while flatbed TVI was 306, down three per cent from March and up three per cent year over year.

National average spot rates rose across all segments:

• Van: US$2.67 per mile, up 15 cents from March and 71 cents year over year
• Reefer: US$3.11 per mile, up 14 cents from March and 83 cents year over year
• Flatbed: US$3.46 per mile, up 37 cents from March and 94 cents year over year

Linehaul rates, which exclude fuel, posted only modest gains. Van linehaul rose five cents to US$1.96 per mile, reefer increased four cents to US$2.34, and flatbed climbed 25 cents to US$2.61.

“Fuel was the story in April,” said Dean Croke, principal industry analyst at DAT. “Linehaul rates barely moved in van and reefer, and the volume of loads moved fell across the board. Small carriers continue to exit the market under sustained cost pressure. That’s not what a demand-based truckload freight recovery looks like.”

Fuel surcharges also climbed to their highest monthly averages since July 2022, with van at 71 cents per mile, reefer at 77 cents and flatbed at 85 cents.

Contract rates also increased, though at a slower pace than spot markets. Van contract rates averaged US$2.85 per mile, reefer US$3.22 and flatbed US$3.71.

DAT said spot-to-contract spreads have narrowed since late 2025, with van at 18 cents, reefer at 11 cents and flatbed at 25 cents.

“In a typical freight upcycle, strong demand for truckload services pushes spot rates above contract rates,” Croke said. “What we’re seeing now is different. Spreads are tightening because there are simply fewer trucks available relative to demand, while much of the recent rate increase is being absorbed by fuel costs instead of improving carrier margins.”