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InTek Intermodal Index (III) Week Ending Aug. 31, 2026

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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 - Historical Edition

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This Week at a Glance

Week ending August 31, 2026

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Intermodal Spot Rate

(excluding fuel)

▲ +1% vs. last week

▲ +5.1% vs. last year

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Truckload Spot Rate

(excluding fuel, DAT)

▲ +1% vs. last week 

▲ +42.4% vs. last year

 

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Diesel Fuel

(EIA National Average)

▼ -0.9% vs. last week 

▲ +49.9% vs. last year

 

 

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Intermodal Volume

(YTD vs. 2025)

U.S. ▲ +3.6%

North American ▲ +3%

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This Week's Analysis

By Rick LaGore, CEO, InTek Logistics | August 31, 2026

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

Trends in the Intermodal Transportation Spot Rate and Market

Intermodal spot firmed again this week, and the back-to-back weekly gain points to a healthy pricing market. Spot rose 1.0% and pushed to 5.1% above last year, the strongest annual reading since February 2022. Truckload spot added 1.0%. Diesel gave back 5.3 cents, its first decline in weeks, though it holds 49.9% above last year.

Notably, last week the intermodal move leaned on Southern California peak charges. This week was a general 1.0% increase across all lanes within the index.

The shape of the underlying market remains the same. Truckload sits well above last year on a cost base that has not come down. Diesel slipped this week but remains near its highs. Intermodal keeps taking converted freight and holding it. The spread has compressed over the past 30 days, though. On some lanes, the freight that moved strictly on price is the freight most likely to move back to truck.

Both spot rates rose the same 1.0% this week, so the linehaul spread between the modes held steady while both moved up. We will have to see if diesel resumes its climb next week.

For shippers, the playbook remains consistent. Price the spread on total landed cost with fuel in it. Diesel eased this week but sits about 50% above last year, so the fuel line is still the largest single item in the comparison. A comparable lane today comes out further in intermodal's favor than one run through the spring, and most of that shift is fuel.

InTek Intermodal Index (excluding fuel):

  • Up 1% vs. prior week
  • Up 5.1% vs. prior year

The InTek Intermodal Index (III), which tracks intermodal spot rates, rose 1.0% for the week and stands 5.1% above last year.

Two straight gains of this size (it was +1.5% the week prior) are a change from the small steady increments that defined the summer. Some of it is seasonal, with peak pricing active in the West, but the follow-through suggests the firming is broader than the Southern California lanes that drove last week. We are in wait-and-see mode on whether the year-over-year gain holds.

Our opinion is it has more room to go before leveling out, which will be a challenge for IMCs holding the truckload conversions that moved strictly on price. That is the other side of a firming intermodal market. The same price strength that signals a healthy mode also narrows the spread that made the easy conversions easy.

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

  • Up 1% vs. prior week
  • Up 42.4% vs. prior year

Truckload spot climbed 1% for the week.

The 42.4% annual reading eased back from 46.8%, and that move is a comparison-base effect, not truckload softening. The premium to intermodal remains large, and truckload's cost base well above last year keeps the mode gap wide on lanes where both compete.

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Diesel Fuel (EIA):

  • $5.559/gallon
  • Down $0.053 (0.9%) vs. prior week
  • Up $1.865 (49.9%) vs. prior year

Diesel eased to $5.559 per gallon, down 5.3 cents (0.9%) on the week and up $1.865 (49.9%) on the year. This is the first weekly decline in several weeks, and it comes right after the year-over-year gap crossed 50%. One down week is the first pause in a run that had set new highs for some time, but the distance between this year and last shows we're far from relief.

The rise in diesel still sits squarely in refining and distillate supply, not in crude. For a shipper, the 3-2-1 crack spread, not the crude price, is what to watch for where diesel goes next.

(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

North American intermodal volume runs 3.0% ahead of 2025 year to date and US volume 3.6%, the North American figure firming a tenth. Volume looks like it has all year, with converted truck freight and strong Mexico cross-border carrying the growth while imports soften.

On the reported table, GMXT leads at 14.8%, holding near last week after its round trip. CSX (5.7%), BNSF (4.8%), and NS (4.1%) run above or near the US average. UP reached break-even at 0.0% and CPKC firmed to 0.6%, both continuing their climb back, while CN at -2.4% remains the softest.

Two of the underperformers crossing to or above flat is the quiet progress in the group, since it means their drag on the national number is lifting.

North American Intermodal

3%

U.S. Intermodal

3.6%

Volume by Railroad

BNSF 4.8%
CN -2.4%
CPKC 0.6%
CSX 5.7%
GMXT 14.8%
NS 4.1%
UP 0%

 

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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 September 7, 2026.

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Does intermodal spot make it three weeks up?

Two gains have carried the index past the initial peak effect. A third would confirm the firming is durable rather than seasonal. Watch whether pricing holds or gives back as western peak pricing matures.

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Was the diesel dip a pause or a turn?

Diesel eased for the first time in weeks after crossing 50% year over year. Watch the next EIA print for whether this is the run breaking or a single soft week. Refineries are running hard and hurricane season is open, so the supply risk has not cleared.

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Does contract data finally land?

The spot-to-contract gap remains the open question, now several weeks running. July Cass truckload linehaul at 8.6% above last year is still the number of record. The next contract print is what tells shippers how much repricing is still ahead, and until it lands the read rests on spot alone.

Last week's scorecard

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

  • Does intermodal spot hold once peak charges fade? It held and added to the gain. Spot rose another 1.0% and pushed year-over-year to 5.1%. The move carried past the initial Southern California peak effect, which reads as durability rather than a one-week lane signal. Not fully settled, but the answer so far is yes.

  • Does diesel keep setting highs past 50%? No, it eased. After crossing 50% year over year, diesel slipped 5.3 cents to $5.559, its first weekly decline in several weeks. Last week's read that the upward pressure showed no sign of relief was too firm. One soft week is not a turn, but the string of new highs paused.

  • Does the import roll-over cap the volume story? Still developing. Domestic and Mexico cross-border strength held the volume line while imports stayed soft, and the year-to-date figures firmed a tenth. The international drag has not overtaken the domestic and cross-border gains, so the substitution read is intact another week.

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 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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