TEG’s has published its 2023 December Road Transport Price Index today, The figures of the analysis indicate a significant increase in average haulage and courier vehicle prices; the overall price per mile for these vehicles rose from 122.2 to 127, marking the highest prices since December 2022.
Despite this increase, the current figures remain 3.5 points lower year-on-year.
The report highlights the challenging year for UK hauliers, marked by record insolvencies and a disappointing conclusion following an Autumn Statement lacking provisions for struggling hauliers. The industry now looks to the government for progress reports on initiatives laid out in 2023, focusing on achieving net-zero emissions and improving road surfaces.
On the brighter side, however, fuel prices have seen a dramatic decrease, providing relief to operators during the busiest period of the year, TEG adds. Current petrol prices are at 142.43p per litre, with diesel prices at 150.88p per litre. Wholesale fuel prices have significantly dropped in the lead-up to Christmas, with petrol and diesel down 12.87p and 28.27p respectively from the previous December.
The report suggests a continued decrease in fuel prices, with predictions that petrol could fall below £1.40 in January.
TEG’s analysis highlights the industry’s focus on decarbonisation, with innovation in technology playing a significant role. Battery electric trucks, such as those tested by Nestlé and DAF, are emerging as promising alternatives to traditional HGVs.
Also, the analysis anticipates an acceleration of digitalisation in the haulage industry, with a focus on resilience against cybercrime. Despite recent advancements, cyber attacks on companies within the industry underline the need for robust cybersecurity measures as technology continues to evolve.