Truckload carriers are seeing higher spot rates even as freight volumes remain sluggish, suggesting tighter capacity is giving them more leverage in rate negotiations.

The national average dry van spot rate reached $3.05 per mile in October, its highest monthly average since February 2022, according to DAT Freight & Analytics.

That was up 4 cents from September and a whopping 98 cents from October 2025.

Refrigerated and flatbed spot rates also were roughly $1 per mile higher than a year ago, although neither increased in October.

• Dry van: $3.05 per mile, up 4 cents from September and 98 cents year over year.
• Reefer: $3.60, down 2 cents from September but up $1.12 year over year.
• Flatbed: $3.61, unchanged from September and up $1.10 year over year.

All three spot rates were about 45% higher than a year earlier.

Higher Trucking Rates, Fewer Loads

The higher rates aren't being driven by a surge in freight demand.

DAT's Truckload Volume Index showed little change in freight volumes from September, with volumes remaining below year-earlier levels across all three equipment types.

Dry van volumes were down 2% year over year, refrigerated freight was down 9%, and flatbed volumes fell 7%.

Meanwhile, the number of trucks posted as available on DAT One was running 22% to 26% below a year earlier, depending on equipment type.

“Brokers moved fewer loads than a year ago and paid carriers about a dollar a mile more to move them last month,” said Dean Croke, DAT's principal industry analyst.

“While fuel and other operating costs are high, carriers are heading into the holiday freight season in a position to be selective and negotiate better rates.”

Will Holiday Freight Push Rates Higher?

More recent data suggests that capacity remains tight as holiday freight begins moving.

According to third-party logistics provider TRAFFIX's Nov. 9 freight market update, spot rates have been relatively steady for the past two months, but carriers still have more leverage in choosing which loads to accept.

One indication is the tender rejection rate, which measures how often carriers turn down loads offered under existing contracts.

TRAFFIX reported a tender rejection rate of 12.9%, more than double the 6.2% recorded a year earlier. Capacity remains particularly tight for refrigerated and flatbed freight.

At the same time, truckload volumes increased about 4.7% over the previous two weeks, suggesting that holiday freight demand may be picking up.

That could put more upward pressure on rates if capacity remains constrained.

For carriers, the tighter market offers opportunities to negotiate better rates. But with diesel prices and other operating costs remaining high, how much of that additional revenue makes it to the bottom line is another question.

Diesel Prices Complicate the Picture

Higher spot rates don't necessarily translate into bigger profits for carriers.

The national average on-highway diesel price was about $6.25 per gallon in October, down slightly from September's $6.29 but about $2.60 higher than a year earlier, according to the U.S. Energy Information Administration.

DAT estimates the fuel portion of spot rates averaged 83 cents per mile for dry vans, 91 cents for reefers and $1 for flatbeds — roughly double the year-earlier amounts.

For a tractor-trailer traveling 500 miles a day and averaging 6 mpg, that meant a daily fuel bill of about $521 in October, compared with $310 in February.

Strip out the estimated fuel portion of spot rates, and the increases look considerably smaller.

Dry van spot linehaul rates averaged $2.22 per mile in October, up 5 cents from September and 55 cents from a year earlier.

Reefer linehaul rates averaged $2.69, down a penny from September, while flatbed linehaul rates rose a penny to $2.61.

All three remain below their highs earlier this year. Dry van linehaul rates, for instance, have fallen 17 cents since July even as the estimated fuel portion has risen 21 cents.

Contract Trucking Rates Also Climb

Contract rates also moved higher in October, with several reaching record levels, according to DAT numbers.

• The average dry van contract rate rose 4 cents to $3.28 per mile, matching the record set in May 2022.
• Refrigerated contract rates reached $3.62 per mile, setting a record for the second consecutive month.
• Flatbed contract rates hit $4.05, their third straight monthly record.

Unlike spot rates, which are negotiated as all-in prices, DAT's reported contract rates include fuel surcharges.

For the first 10 months of 2026, average spot rates for all three equipment types were the highest DAT has recorded for that period since its monthly records began in 2010.

Heading into the holiday shipping season, the question is whether tighter truck capacity will keep rates high even without a significant increase in freight demand.