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InTek Intermodal Index (III) Weekly Market Analysis

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Weekly market intelligence including the InTek Intermodal Index (tracking intermodal spot rates), along with truckload pricing, diesel trends, and railroad volumes

Updated every Thursday | Last updated: July 2, 2026

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This Week at a Glance

Week ending July 6, 2026

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Intermodal Spot Rate

(excluding fuel)

▲ +1.1% vs. last week

▲ +1.9% vs. last year

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Truckload Spot Rate

(excluding fuel, DAT)

▲ +7.4% vs. last week 

▲ +29.4% vs. last year

 

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Diesel Fuel

(EIA National Average)

▼ -1.9% vs. last week 

▲ +22.4% vs. last year

 

 

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Intermodal Volume

(YTD vs. 2025)

U.S. ▲ +3.4%

North American ▲ +2.7%

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This Week's Analysis

By Rick LaGore, CEO, InTek Logistics | July 6, 2026

Analysis of the InTek Intermodal Index (III) and freight market trends

Trends in the Intermodal Transportation Spot Rate and Market

Truckload spot rates continued to climb sharply this week, while intermodal spot moved up at a far more measured pace. For shippers weighing mode, the story is the widening gap between truckload and intermodal.

Truckload pricing is moving several times faster than intermodal, and every point of that gap widens intermodal's relative cost advantage. When the spread opens like this, intermodal becomes the more economical option on a growing set of lanes, and the volume data suggests shippers are already responding, with US intermodal volume up 3.4% year to date.

That combination, truckload rates rising fast while intermodal volume grows, is the pattern we track most closely. Truckload strength tends to show up first in price, and intermodal tends to confirm it in volume as freight moves to rail on the spread. One caution belongs alongside it: a truckload move this fast can reflect tight capacity and a seasonal pull-forward as much as durable new demand. Shippers planning around it are wise to treat the spread as a reason to price now, while watching whether the truckload strength holds through the summer.

InTek Intermodal Index (excluding fuel):

  • Up 1.9% vs. prior week
  • Up 2.4% vs. prior year

Intermodal spot moved up at a measured pace this week, gaining 1.1% week over week and holding 1.9% above last year. The year-over-year reading has now stayed positive and firmed for a third straight week, which matters more than any single print because it points to durability rather than a one-week bounce.

National Truckload Spot Rate (DAT, excluding fuel): (DAT Trendline Report)

  • Up 2.5% vs. prior week
  • Up 29.4% vs. prior year

Truckload spot climbed sharply, up 7.4% for the week and 29.4% against a year ago. The jump ran through the Independence Day week, when a holiday slowdown might have been expected, so some of it may reflect calendar distortion on top of genuinely tight capacity. The trend into mid-July will show how much of this strength holds.

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Diesel Fuel (EIA):

  • $4.67/gallon
  • Down $0.164 (3.4%) vs. prior week
  • Up $0.941 (25.2%) vs. prior year

Diesel eased slightly this week, down 9 cents to $4.578, but remains 22.4% above a year ago. The week-over-week dip offers minor relief on fuel surcharges, while the elevated year-over-year level continues to favor intermodal, which is roughly three times more fuel efficient than over-the-road trucking.

 

(The full spreadsheet of the historical weekly price moves of diesel full can be found at https://www.eia.gov/petroleum/gasdiesel.)

 

Year-to-Date Intermodal Volume by Region and Railroad vs. 2025

Year-to-date intermodal volume is running ahead of last year across most of the network, with North American volume up 2.7% and US volume up 3.4%. Growth is broad, led by GMXT at 16.7%, which reflects continued strength in cross-border Mexico freight, with CSX (6.1%), BNSF (5.4%), and NS (4.1%) also posting solid gains. CN, CPKC, and UP are running modestly below last year's pace. The overall picture is a network moving more intermodal freight than it did a year ago.

 

North American Intermodal

2.7%

U.S. Intermodal

3.4%

Volume by Class 1 Railroad

BNSF 5.4%
CN -1.4%
CPKC -1.9%
CSX 6.1%
GMXT 16.7%
NS 4.1%
UP -2.2%

 

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Intermodal Spot Rate Trend Charts

InTek Intermodal Index (III) spot rate per mile including fuel, showing weekly trends

Intermodal Spot Rate Per Mile (Including Fuel)

  

InTek Intermodal Index (III) spot rate per mile excluding fuel, showing weekly trends

Intermodal Spot Rate Per Mile (Excluding Fuel)

 

InTek Intermodal Index (III) average intermodal spot rate per mile from 2021 to 2026 Intermodal Spot Rate Average Per Mile (2014-2026)

InTek Intermodal Index (III) average intermodal percentage rate change per mile from 2021 to 2026

Intermodal Spot Rate Y/Y % Change (2014-2026)

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What to watch next week

Three things to watch heading into the week of July 13, 2026.

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Will the truckload-to-intermodal spread continue to widen?

Truckload spot jumped 7.4% in a single week. Watch whether intermodal spot follows it up or the gap keeps widening. A wider gap grows intermodal's cost advantage and tends to pull more freight to rail.

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Is the post-holiday truckload strength real or a distortion?

With the July 4 week now behind us, watch whether truckload rates and tender rejections hold their gains into mid-July. That is the read that tells us the surge is durable rather than a calendar effect.

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What will the next round of freight & economic data look like?

The Cass Freight Index release will help show whether volume is confirming the price move, or whether this remains a supply-and-price story waiting on demand.

Last week's scorecard

Last week we flagged three things. Here is how they played out.

  • Will intermodal spot hold a positive year-over-year reading for a third straight week? Yes. Intermodal spot came in up 1.9% year over year, holding positive and firming from the prior week's pace. The durability we were watching for is showing up in the trend, not just a single print.

  • How will the Independence Day week affect truckload? Mixed, and it broke to the upside. Rather than a holiday-week lull, truckload spot jumped 7.4% for the week and held 29.4% above last year. That said, month-end, quarter-end, and the July 4 slowdown can all distort a single week, so this reading still needs the trend into mid-July to confirm.

  • What would the next round of freight and economic data show? Partial read in. The June LMI landed strong, with transportation the primary engine, though volume stayed flatter than price, and diesel eased off its spring peak. The signal on whether demand is joining the supply-side move is still incomplete pending the later Cass Freight Index release.

About the InTek Intermodal Index:

The InTek Intermodal Index (III) tracks weekly domestic intermodal spot rates on a per-mile basis, both including and excluding fuel surcharges. Each week's report includes comprehensive market analysis covering truckload pricing trends, diesel fuel costs, and Class I railroad intermodal volumes to provide context for rate movements.

Published every Thursday since 2014, the Index serves as a resource for shippers, carriers, and industry analysts tracking North American freight market trends.

Citation: InTek Intermodal Index. (2026). Weekly Intermodal Spot Rate Report. Retrieved from https://www.inteklogistics.com/spot-rates

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