June 2026 Report: Freight Rates and Fuel Expenses Continue Climb

The trucking industry is navigating a complex landscape in June 2026 as rising freight rates are being offset by surging fuel costs and geopolitical trade uncertainty. While spot rates for dry van, refrigerated, and flatbed equipment have seen significant year-over-year increases, the U.S. government's refusal to renew the USMCA trade agreement for 16 years has introduced new long-term risks for North American logistics. Additionally, capacity remains tight as federal crackdowns on driver qualifications and ongoing conflict in the Strait of Hormuz continue to pressure operational costs and labor availability.

The freight sector faces significant headwinds from geopolitical instability and shifting trade policies, most notably the U.S. rejection of a 16-year renewal for the USMCA agreement. Although the agreement remains in place with annual reviews until 2036, the lack of a long-term extension threatens a trade zone responsible for $1.9 trillion in annual commerce between the U.S., Canada, and Mexico. Simultaneously, ongoing conflict in the Strait of Hormuz has restricted global oil shipments, which account for 20% of the world's supply. This volatility has driven diesel prices to a U.S. average of $4.67 per gallon, a 25.2% increase over the previous year, effectively neutralizing many of the gains carriers have seen from rising freight rates.

Data from major industry trackers reflect a cooling but still active freight market. The ACT Research Trucking Index for June showed freight volumes at 65.9 and pricing at 70.2, both indicating growth but at a slower pace than in May. Meanwhile, the DAT Freight and Analytics report highlighted substantial year-over-year gains in spot rates, with refrigerated rates jumping 93.8% to $3.40 per mile and dry van rates rising 28.7% to $3.00 per mile. However, the American Trucking Associations (ATA) For-Hire Trucking Index rose only 0.1% in June, with Chief Economist Bob Costello noting a "definite weakening" in volumes during the second quarter despite the broader economy remaining on solid footing.

Labor shortages and regulatory enforcement are further tightening industry capacity. The ACT Index for driver availability fell to 34.1, the only metric in negative territory, as carriers struggle to recruit staff under current pay structures. This shortage is exacerbated by FMCSA crackdowns on non-domiciled CDL holders and English language proficiency standards, which have removed drivers from the fleet and caused enrollment drops at immigrant-focused CDL schools. While 47% of carriers surveyed by ACT plan to purchase new equipment in the next three months to capitalize on higher rates, this figure remains below the historical average of 53%, suggesting a cautious approach to fleet expansion amid rising operational costs.