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Road freight prices soar to new records

Road freight prices soar to new records

The average price-per-mile for haulage and courier vehicles has risen by 18% in the last three years and has now hit its highest level so far this year, according to the latest TEG price index data.
It shows that the average price-per-mile for haulage and courier vehicles has jumped from 103.1 points in June 2019 to 122.0 points in June 2022, and in the last year has seen a year-on-year price-per-mile increase of 4.3 points. The year-on-year index figure has climbed consistently every month since the start of 2021.

The increase in what hauliers and couriers are charging follows soaring fuel prices and inflation. According to the Road Haulage Association, fuel represents over a third of a truck’s operating costs.

Lyall Cresswell, CEO at Transport Exchange Group and new platform Integra, said: “From operational costs to ongoing driver shortages, we hear about industry issues every day from our members. However, they’re coping admirably with the pressures and the constantly shifting landscape.”

“With consumer confidence at a record low, we may well see a slowdown in demand for road freight, as fewer people shop online. But this might actually give the industry a little breathing room, softening the impact of driver shortages and supply chain bottlenecks.”

Creswell called for an essential user rebate, which would help cut fuel costs for hauliers. “There’s no question that hauliers and couriers are essential users and such a move would provide some respite for the industry – and consumers.”

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