Truckload Spot Rates Climb to $3.42 a Mile as Peak Season Tender Rejections Hit 14.5%

Truckload spot rates have risen roughly 90 cents per mile year over year, reaching about $3.42 from $2.40, while the Truckload Rejection Index climbed back to 14.5% — the strongest signal yet that peak season demand is materializing, according to FreightWaves SONAR data reviewed on Sept. 21, 2026. Net-of-fuel earnings are running about $0.70 per mile above 2024 levels, per the Net Truck Index of Linehaul, leaving carriers ahead of last year despite record diesel prices. Tender rejections have increased since mid-September and are tracking above 2023 and 2024 levels, with analysts expecting further gains as peak season approaches. Diesel remains a cash-flow strain: fuel surcharges do not cover deadhead miles, fuel bills come due within two to three days, and freight payments can lag 60 to 90 days. Capacity continues exiting the market on regulatory crackdowns, insurance and driver costs, and diesel-driven cash-flow pressure. FreightWaves' Craig Fuller said rates have risen enough for carriers to profit, though analyst Julie Van de Kamp cautioned they have not reached comfortable levels.