National Average Price for Regular Unleaded Current: $3.518; Month Ago: $3.832; Year Ago: $3.760. National Average Price for Diesel Current: $4.497; Month Ago: $4.569; Year Ago: $5.309.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 1% in November after increasing 0.8% in October. In November, the index equaled 113.7 (2015=100) compared with 114.9 in October. “We continued to see a choppy 2023 for truck tonnage into November,” said ATA Chief Economist Bob Costello. “It seems like every time freight improves, it takes a step back the following month. While year-over-year comparisons are improving, unfortunately, the freight market remains in a recession. Looking ahead, with retail inventories falling, we should see less of a headwind for retail freight, but I’m also not expecting a surge in freight levels in the coming months.” October’s gain was revised down slightly from our November 21 press release. Compared with November 2022, the SA index fell 1.2%, which was the ninth straight year-over-year decrease. In October, the index was down 2.4% from a year earlier.

FedEx Corp. announced several leadership roles as the company makes progress to separate its less-than-truckload (LTL) freight division. John A. Smith, chief operating officer, U.S. and Canada, of Federal Express, has been selected to serve as the president and CEO of FedEx Freight, and R. Brad Martin, vice chairman of the FedEx Corp. board of directors, has agreed to serve as chairman of the board of FedEx Freight. Both appointments will be effective upon completion of the previously announced separation of FedEx Freight from FedEx Corp. Plans for the spin-off, which is expected to occur by June 2026, remain on track. “I cannot think of two individuals with more knowledge of, or commitment to, the long-term success of the FedEx Freight business than John Smith and Brad Martin,” said Raj Subramaniam, president and CEO of FedEx Corp. “Together they have the track record and expertise to successfully lead this new and exciting chapter for the independent FedEx Freight company.”