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Trucking Market Predicted to Stabilize, but Challenges Remain

Sep 17, 2023 at 06:01 PM CST

Carriers in the trucking industry are hopeful that the market is moving toward equilibrium after a period of imbalance. However, they also expect a “muted peak season” in 2023, with any significant improvement in market fundamentals not expected until 2024. Smaller trucking fleets are particularly feeling the financial pressures, including declining spot rates, high interest rates, and a 20% increase in diesel prices since July.