With the help of Jim Tennant of The Tennant Group and Michael Meyer of Rate-Highway Inc., we are conducting rate surveys on a weekly basis and providing analysis and comments where appropriate. We publish this monthly recap in our electronic edition and more comprehensive looks in the print editions.
April rate quotes continued the recent downward trend. We saw a peak in July 2014, caused mostly by an industry shortage of fleet due to recalls, and every month since then has been down from the previous year.
The average monthly decrease from August 2014 to April 2015 was $2.92, so April’s $3.19 decrease was a continuation of this trend.
A quick look at the nationwide weighted average in the chart below (the heavy black lines) show a clear pattern of this year closely following last year, but it’s about $3 lower.
The Northeast continues to be down, but it is still the highest of the five regions at $64.09 — with the other four regions grouped closely around $40.