Northern MileMarket pulse
3 up · 1 down · 5 steady or level
The week in one line
US diesel at $6.276/gal, Canadian diesel at 264.3¢/L, the loonie at 1.4025, US GDP moving +2.2% annualized last quarter, Canadian GDP moving 0.0% last month.
When the numbers move
Canadian diesel updates on Tuesdays, when NRCan publishes its weekly survey. US diesel updates on Mondays, when EIA publishes its weekly retail survey. The Bank of Canada posts USD/CAD every business day.
US Quarterly GDPBroadest measure of US economic activity. GDP growth = more freight moving. · US Bureau of Economic Analysis, via FRED+2.2%
Canada Monthly GDPBroadest measure of economic activity. GDP growth = more freight moving. · Statistics Canada0.0%
US GDP, year over yearGDP against the same quarter last year. The longer-term freight demand trend. · US Bureau of Economic Analysis, via FRED+2.2%
Canada GDP, year over yearGDP against the same month last year. The longer-term freight demand trend. · Statistics Canada+1.4%
US Fuel cost per 1,000 milesPer-1,000-mile fuel cost at the US national average. Used directly in rate quotes. · EIA weekly retail diesel survey$966
Canada Fuel cost per 1,000 kmPer-1,000km fuel cost at current diesel prices. Used directly in rate quotes. · NRCan weekly diesel survey$925
US California vs Lower Atlantic diesel spreadThe gap between the dearest and cheapest EIA district. Fuel where Lower Atlantic prices it. · EIA weekly retail diesel survey$2.502/gal
Canada BC vs AB diesel spreadWide gaps create arbitrage on cross-province lanes. BC diesel runs higher than AB. · NRCan weekly diesel survey43.7¢/L
US Border congestionBacked-up crossings add idle time and late-delivery risk on cross-border lanes. · CBP border wait times4/7
Canada Border congestionBacked-up crossings add idle time and late-delivery risk on cross-border lanes. · CBSA commercial lane feed3/9
USD/CAD vs 30-day averageWeaker CAD = more competitive cross-border exports, higher input costs. Stronger CAD = cheaper US equipment/parts. · Bank of Canada1.4025
These indicators mix cost signals and demand signals, which move in opposite directions for a carrier. A rising number is not automatically good news and we do not colour them as though it were. How the numbers are sourced
Citing this figure
Northern Mile market indicators: Canadian diesel 264.3¢/L, US diesel $6.276/gal, USD/CAD 1.4025. Statistics Canada, the US Energy Information Administration and the Bank of Canada. Northern Mile Media, dashboard.northernmilemedia.com/market-pulse/