The U.S. average for diesel fell 16.5 cents to $6.127 a gallon, but trade policy just got shakier for cross-border lanes.
Diesel eases but stays above $6
- $6.127 per gallon: the national diesel average for the week of 2026-11-09, still a heavy weight on cost per mile.
- Down 16.5 cents (2.6%) week over week, a modest break for carriers running tight margins.
- Down 5.2 cents over four weeks, so relief is building slowly, not arriving all at once.
- $6.23/gal at truck stops on Nov. 9, up 65% YoY even as Brent fell 21%, so refining margins are keeping pump prices high.
Source: EIA: Weekly U.S. diesel price, week of 2026-11-09 · FreightWaves: Diesel 101: Why Truck Stop Diesel Is Still Above $6 a Gallon as Crude Falls
Tariff fight heats up again
- Doubled Mexico tariffs are on the table unless the border migrant increase stops, a direct risk to cross-border freight volumes.
- Democrats now control both chambers of Congress, adding uncertainty to the trade outlook and shipper planning.
- Three bills in Congress would sharply limit presidential tariff power, and experts see possible bipartisan support.
- Manufacturing advocates argue against rolling back trade enforcement, so expect a drawn-out policy fight.
Source: FreightWaves: Trump threatens to double Mexico tariffs over alleged migrant influx · FreightWaves: US midterm shift adds trade uncertainty as trans-Pacific ocean freight rates stay elevated · Supply Chain Dive: Bipartisan push possible to curb Trump tariffs · Supply Chain Dive: Manufacturing advocates make case for tariffs following midterm results
Small-fleet tier keeps shrinking
- About 362,000 tractors now run with one-to-six-truck carriers, down from a 2023 peak near 398,000.
- Not all of that is failures; many trucks are moving elsewhere rather than leaving the industry.
- 15 bankruptcy filings and more than 1,000 job cuts in recent weeks show freight distress is ongoing.
Source: FreightWaves: Why Owner-Operators Are Leaving The Small-Fleet Tier, And Where Their Trucks Go Next · FreightWaves: Freight distress persists as logistics layoffs top 1,000, bankruptcies mount
Ocean imports cool from peak
- Transpacific ocean rates eased slightly as U.S. port demand slows, though they remain elevated year over year.
- Imports are coming off a near-record peak, which could thin out port drayage and import-driven loads.
- Air cargo shows few signs of a late-year volume surge, hinting at a muted holiday freight finish.
Source: Supply Chain Dive: Transpacific ocean rates ease slightly as peak winds down · FreightWaves: US midterm shift adds trade uncertainty as trans-Pacific ocean freight rates stay elevated · Supply Chain Dive: Air cargo’s hopes for end-of-year volume surge dwindle
Rail gains ground on intermodal
- 6.6% year-over-year growth in U.S. rail traffic, led by intermodal, means more competition for long-haul truckload freight.
- BLET ended its Wheeling & Lake Erie strike after winning protections for union conductors' work.
- Genesee & Wyoming plans to split into three rail holding companies and sell dozens of short lines.
Source: FreightWaves: Intermodal leads U.S. rail traffic up 6.6% from a year ago · FreightWaves: BLET ends Wheeling & Lake Erie strike · FreightWaves: Genesee & Wyoming prepares to split into three rail holding companies
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