The TEG Road Transport Index fell by 1.9 points to 123.7 in July, a 1.51% decrease from the previous month. However, on a year-on-year basis, the index is up by 4 points, or 3.34%, reflecting broader economic trends and cost adjustments.
In the haulage sector, TEG’s figures show a similar monthly decline of 1.7 points, equivalent to a 1.38% drop. Year-on-year, haulage prices surged by 6.23%, translating to a 7.1-point increase. This significant rise is attributed to ongoing cost pressures that operators face.
According to the report, courier prices also saw a reduction in July, falling by 1.63% or 2.1 index points. Despite this monthly decline, courier prices have risen by 1.04% compared to July 2023.
TEG suggests that these trends are in line with typical annual patterns, where transport prices often stagnate during the summer before picking up again in September. However, various factors could influence whether this trend continues.
Industry dynamics are being closely monitored, especially in light of recent political changes. The GfK Consumer Confidence Index, which rose by just one point in July, indicates a cautious optimism among consumers following the new government’s formation. This cautious sentiment may impact spending and economic activity in the coming months.
Fuel prices, a critical component for transport costs, continued to decline in July. According to TEG, diesel prices fell to 150.35p per litre, a 0.77% decrease from June. Nonetheless, diesel remains 4% higher than in July 2023.
Petrol prices dropped to 144.44p per litre, down 0.9% from June but still 1.93% higher year-on-year.
