Find out the average market rate and average fuel cost on your most important lanes. Fuel rates let you optimize carrier costs and spot cost-savings opportunities on key routes. Get insight into diesel fuel prices across major transportation lanes by evaluating the average fuel cost rate per mile in SONAR SCI.
As transportation experts know, fuel costs directly affect shipment prices. Stay current with fuel market demand by keeping an eye on fuel cost movement. Know when, where and how much diesel fuel rates increase to keep your contracts profitable.
Find out the average market rate and what shippers pay for fuel on their contracted freight. Fuel rates, available both on the network and within list views, let you benchmark your fuel surcharges against North American shippers. Gain insight into diesel fuel prices across major transportation lanes by evaluating the average fuel cost rate per mile in SONAR SCI.
For both carriers and shippers, the cost of fuel significantly affects profit margins when moving truckloads. So significant, in fact, companies often use fuel consultants to develop custom fuel purchasing and risk management best practices. These best practices help companies avoid making costly fuel buying decisions.
SONAR’s truckstop retail diesel price (DTS) series provides a daily outlook on what is happening with fuel prices at a granular level. For owner-operators, this data lets you know the right price to accept a load while fairly compensating for the cost of fuel. Similarly, this data lets shippers determine exposure to the price of fuel as it comes through a surcharge.
For owner-operators, isolating the fuel price lets you better understand true costs on estimates from your providers.
SONAR trucking rates and market data offer unmatched visibility into freight market conditions and trends. In SONAR SCI, diesel fuel prices and rates show up in several different views. These views also allow market-level granularity for more accurate forecasting compared to what is visible to the general public.
Retail to Wholesale Fuel Spread: This view shows the difference in fuel rates for retail compared to rack prices. Since DOE pricing (the price that shippers pay) is based on retail, large carriers may find truck fuel deals and discounts by purchasing fuel at the rack. Knowing the delta when comparing retail to wholesale prices lets shippers forecast changes in costs and carriers identify cost-saving opportunities.
DOE Diesel Price Per Gallon by PADD Regions: This view shows the DOE PPG by PADD Regions (the cost as of the previous day) and the percentage change over the last month. Easily see which regions are experiencing big swings in diesel prices to avoid overpaying for fuel.
Diesel Truckstop Actual PPG by Market: A denser, more up-to-date fuel rate than DOE. See the Diesel PPG rate for the day before and the day-over-day rate change. Green shows an increase and red shows a decrease.
It’s normal for fuel prices to fluctuate between locations, regions and/or lanes. As a result, using a combination of metrics to understand current rates or assess recent movement generally yields better results. FreightWaves SONAR gives you access to robust freight market data so you don’t overpay on fuel when moving your trucks. Talk to an expert to learn more about how you can use FreightWaves SONAR freight market data to maximize your margins.