ODFL · 10-Q · 2026Q3 · Full report

Fuel Cost Volatility

OLD DOMINION FREIGHT LINE, INC. · 2026-11-04 · Importance 63 · Surprise 64

The average cost per gallon of diesel fuel, excluding fuel taxes, increased 68.4% in the third quarter and 50.8% in the first nine months of 2026 compared with the same periods of 2025. Diesel fuel is the largest component of operating supplies and expenses; gallons consumed declined 0.3% and 5.0% in those respective periods. The company does not use diesel fuel hedging instruments, leaving costs exposed to market price fluctuations, while fuel surcharges are intended to offset fluctuations in petroleum-based product costs.

Key facts

• OLD DOMINION FREIGHT LINE, INC. identified diesel price fluctuations and its ability to collect fuel surcharges, including the effectiveness of surcharges in mitigating fuel-price impacts, as risks. source
• OLD DOMINION FREIGHT LINE, INC. does not use diesel fuel hedging instruments and is therefore subject to market price fluctuations. source