Diesel Jumps 10 Cents as Spot Rates Gain Only 2, Squeezing Carrier Margins

Diesel prices rose $0.10 per gallon in a week to just under $6.57 as of Monday, September 28, 2026, while all-in driving spot rates gained only $0.02 per mile over the same period, widening a margin squeeze across the trucking industry. The National Truckload Index sits 5.2% above last month's $3.28 per mile, while diesel is 16.5% higher than a month ago. Although fuel surcharges offset higher costs on contracted freight, carriers absorb the full expense on empty miles, making deadhead reduction a critical lever, said Julie Van de Kamp. Tender rejections are holding near 14%, well above year-ago levels and described as healthy, preserving carrier negotiating leverage. Capacity remains tight, exacerbated by regulatory crackdowns on non-domiciled CDLs and substandard driving schools. Demand is muted, with automotive and housing soft, though discount retail performs well. Van de Kamp projected an elongated, stable peak season with climbing contract rates and intermodal momentum.