Trucking Rates Per Mile

After factoring in driver pay, insurance premiums, fuel and maintenance costs, permits, tolls, equipment financing, and other expenses, it can be difficult to determine whether your pricing strategy is keeping your rate per mile where it needs to be in order to maintain a proper profit margin. DAT RateView is the best way for brokers, carriers, and shippers to see national and regional freight averages, check on what the competition is doing, and stay ahead of market fluctuations that can impact their bottom line. 

To get a flavor for what current rates are, check out the DAT Trendlines  free weekly report on national rate and demand trends.  

Independent truckers and contractors are responsible for different operational expenses than owner operators — including handling their own authority, permits, annual registration, and taxes — all of which needs to be factored into their prices when they start negotiating with brokers and shippers to keep their rate per mile as competitive as possible. 

The good news is that data from DAT iQ’s industry-leading rate database is seamlessly integrated with DAT’s load boards, giving independent truckers real-time access both to available freight listings and the most accurate rate data on more than 68,000 lanes — even if the broker or shipper doesn’t include a price in the listing. 

Freight rates are typically influenced by a number of market factors. For example, the COVID-19 pandemic and historically low oil prices were responsible for a significant dropoff in freight volume and market rates in 2020. However, services like rate benchmarking and forecasting help ensure that your rates stay competitive and that you’re able to take advantage of opportunities to increase your revenue as they arise. The DAT blog is another excellent resource for staying up to date on industry trends.

Owner-operators have a set of financial responsibilities, including fixed expenses like truck payments, licensing fees, phone bills, insurance costs, and variable expenses such as fuel purchases, maintenance costs, taxes, and other unexpected charges that come up in the course of delivering freight. 

Calculating the annual fixed cost per mile of owning a truck alongside an annual average of variable costs will provide owner operator trucking rates per mile they need to run a profitable business. These can then be compared against their current freight rates, and — using DAT’s analytics and forecasting tools — used to improve pricing strategies for greater profits.
 

According to the most recent report from the American Transportation Research Institute, operating expenses for motor carriers are on the rise, with the average cost per mile now reaching $1.82. That’s a 7.7 percent hike from the previous year. The advantage of DAT RateView is that it allows you to benchmark prices on your preferred lanes, while also providing data on per-mile accessorial charges and average fuel costs.

With real-time data on trucking rates per mile and analysis of current market conditions, carriers and owner operators are better prepared to negotiate with brokers and shippers. Knowing the right price to ask makes it clear that you’re serious about doing business, which opens up more opportunities for establishing reliable business relationships and better financial management practices.