Everything You Need To Know About Trucking Rates Per Mile
Trucking rates per mile widely differ from one trucking company to the other. Some factors affecting trucking rates include the distance of the route, the type of cargo being transported, fuel costs, and the supply and demand of trucking services in a given area. Understanding the trucking rates per mile is vital to maximizing your budget. However, before diving into the trucking freight rates in 2023, it’s good to understand how the factors mentioned above determine trucking rates.
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Factors Affecting Trucking Rates Per Mile
Calculating trucking rates depends on various factors, including:
- Distance of the Route
Whether you want your cargo moved locally or across borders, the distance between the pick-up point and to drop-off location determines the trucking rates per mile. A trucking company will ensure they have the correct mileage and calculate the transport cost. The longer the distance is, the more you pay due to fuel costs, equipment maintenance, and driver wages.
- Supply and Demand of Trucking Services
The competition also plays a crucial role in determining trucking rates. When several trucking services are available, the rates go down because the demand is less than the supply of services. On the other hand, when the number of shipment increase, shippers compete for capacity, and the rates go up. However, it is crucial to avoid picking companies offering cheap trucking rates per mile, even when service demand is down. Instead, research and determine the track record of the shipping company’s success and experience in transporting heavy loads.
- Weight and Size
Your load’s weight, length, height, and width play a more significant role in determining trucking rates. The weight of your shipment is a significant factor when calculating trucking cost per mile. A higher weight translates to higher costs and vice versa. The heavier your cargo is, the more fuel will be used to haul it. Oversize hauling also add additional cost because of the added cost of obtaining the necessary state permits and providing escort cars.
- Fuel Cost
With the continuous fuel prices increment, many trucking companies add a fuel surcharge to their rates. Therefore, as the price of fuel increase, the cost of trucking rates increase. However, most reliable trucking companies will update you on fuel costs and add them to the mile base rate.
- Freight Classification
Freight classification also affects freight rate per mile. According to the National Motor Freight Traffic Association, 18 classes of shipment affect freight rates. Load density, product value, liability, stowability, and handling needs determine freight classification. Density involves the weight of the cargo and the amount of space it occupies. Heavy loads that take up small spaces have lower rates. Also, loads that are easy to pack and handle have lower rates.
- Extra Charges
Some companies may charge accessorial fees, which increases the trucking freight rate. Some of the extra charges you may find included in your rate include the following:
- Mandatory insurance
- Additional insurance
- Additional equipment like cables, tarps, etc
- Driver unload fees
- Toll fees
Note that these fees are negotiable. If you are not impressed by these additional costs, talk to your trucking company.
Trucking Rates Per Mile in 2023
By February 2023, flatbed freight rates ranged from $2.41 per mile to $3.11 per mile. The national average flatbed rate is $2.71 per mile. According to DAT Freight & Analytics, the highest average van freight rate is $2.57 per mile, and the lowest is $2.12 per mile. The average reefer freight rates are $2.62 per mile. The highest reefer freight rate averages $3.11 per mile, and the lowest is $2.30 per mile.
It’s important to note that these rates differ per region. According to DAT, Midwest has the highest average flatbed, reefer, and van freight rates, averaging $3.11 per mile for flatbed and reefer and $2.57 per mile for vans. West and Southeast have the lowest freight rates averaging $2.39 per mile for reefer, $2.12 per van, and $2.41 per mile for a flatbed.
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