U.S. Bank Freight Payment Index: Shipper Costs Hit Five-Year High as Freight Demand Stalls
Business Wire•29/10/2026•08:00 ET
0
Key Highlights
- ➤National shipper spending rose 32.1% year-over-year, largest annual increase since 2021
- ➤National shipment volumes increased just 0.5% year-over-year despite sharply higher spending
- ➤Southwest spending surged 51.6% year-over-year amid especially tight capacity
- ➤U.S. diesel prices climbed above $6.50 per gallon nationally, driving higher freight costs
- ➤Southeast shipments rose 4.7% quarter-over-quarter, the strongest regional gain
Expert Statements
Bob Costello, Senior vice president and chief economist at the American Trucking Associations
“What makes this quarter notable is that outlays are rising much faster than freight volumes. Freight demand remains uneven, but companies are encountering tighter truck capacity, higher fuel costs and stronger carrier pricing power. As a result, shippers are spending substantially more to move essentially the same amount of freight.”
Bobby Holland, Director of freight business analytics at U.S. Bank
“Freight conditions vary by region, but cost pressure is widespread. Even where volumes are flat or declining, tighter capacity and higher operating costs are driving spending higher.”
U.S. Bank Freight Payment Index: Shipper Costs Hit Five-Year High as Freight Demand Stalls
* Shipper spending rose 5.2% quarter-over-quarter and 32.1% year-over-year, the largest annual increase since 2021
Get started
Create a free account to read the full story.