Key facts
- Shipper spending surged 32.1% year-over-year.
- National shipment volumes rose 0.5% year-over-year.
- Southwest region spending increased 51.6%.
US shippers faced the highest freight costs since 2021 in the third quarter, according to data from the US Bank Freight Payment Index. Soaring diesel prices, influenced by geopolitical tensions, and a reduction in available truck drivers due to federal immigration crackdowns contributed to the increase. Shipper spending rose 32.1% year-over-year, outpacing a modest 0.5% increase in national shipment volumes. All regions saw spending increases, with the Southwest leading at 51.6%.