According to FreightWaves, U.S. Bank’s October 2026 Freight Payment Index – Rates Edition reports that contract dry van linehaul rates ended August at $2.39 per mile—22 cents above spot linehaul, which fell to $2.17 per mile. This marks the widest gap since June, when spot had briefly led contract by 8 cents.
Monthly rate divergence deepens
Spot linehaul declined steadily from $2.38 in June to $2.35 in July and $2.17 in August. Contract linehaul rose each month—from $2.30 in June to $2.38 in July and $2.39 in August—gaining every month since April. The index, co-produced by U.S. Bank and DAT Freight & Analytics, covers June through August 2026 and breaks out spot, contract, and fuel costs per mile.
The widening gap reflects shippers’ continued preference for committed capacity amid softening transactional demand. As the report notes, “the gap now opening in contract’s favor suggests shippers continue to value committed capacity while transactional freight absorbs more of the market’s weakness.”
Year-over-year, both rates remain sharply elevated: spot linehaul in August was up 35.6% from $1.60 in August 2025, and contract was up 20.1% from $1.99.
Fuel surcharges climb as linehaul softens
Fuel surcharges rose 13% to $0.70 per mile in August from $0.62 in July. With fuel included, spot rates fell 3.4% to $2.87 per mile, while contract rates rose to $3.09 from $3.00. Jeff Pape, head of transportation for U.S. Bank Corporate Payment Systems, stated:
“Fuel costs are increasing while linehaul pricing is softening, making it important for transportation teams to closely analyze the components of their freight spend.” — Jeff Pape, head of transportation for U.S. Bank Corporate Payment Systems
Jennifer Bullock, freight audit and analytics manager at CommScope, emphasized analytical rigor:
“Stable rates do not necessarily mean stable transportation costs. Shippers need to separate fuel from linehaul to understand where pricing pressure is actually changing.” — Jennifer Bullock, freight audit and analytics manager at CommScope
Fuel’s share of the broker-to-shipper spot rate on dry van loads climbed from 21% in June to 24% in August, with diesel prices trending higher into fall, according to Patrick Pretorius, general manager of DAT’s shipper segment.
Load volumes decline amid tightening capacity
Spot loads in the index fell 3.2% in August to 1,264,897 from 1,306,819 in July; contract loads dropped 1.3% to 740,249 from 750,371. Year-over-year, contract loads were down 27.7% from 1,024,398 in August 2025, and spot loads fell 5.7% from 1,341,626.
Pretorius attributed tightening capacity to rising fuel costs squeezing thinner-margin carriers:
“Higher fuel costs push smaller, thinner-margin carriers out of the market, which adds to an already shrinking driver pool.” — Patrick Pretorius, general manager of DAT’s shipper segment
He advised shippers to shift focus from rate-per-mile negotiations toward consolidation and network planning: “Shippers who’ve spent two years squeezing rate per mile would do well to shift focus to consolidation and network planning, as the market is tightening from two directions at once.”
Source: FreightWaves
Compiled from international media by the SCI.AI editorial team.
