Key points:
- The TEG Road Transport Price Index fell by 0.42% to 141.0 points in October, its first fall since February.
- Year on year, prices are still 10.85% higher.
- Transport demand fell by 9.98%, while vehicle availability rose by 11.55%.
- Diesel averaged 199.52p per litre, up 39.75% on October 2025.
- The haulage index fell by 1.04%, while the courier index rose slightly.
First fall in eight months
According to the TEG Road Transport Price Index, which tracks prices on the UK spot market, the overall index fell by 0.6 points in October. Prices are still 10.85% higher than a year ago.
The decline came mainly from haulage. The haulage index fell by 1.04% to 142.3 points, with rates for articulated vehicles down 1.2%. The courier index rose slightly, by 0.14% to 139.7 points.
- TEG Price Index: 141.0 points, down 0.42% month on month, up 10.85% year on year,
- Haulage Index: 142.3 points, down 1.04%, up 13.12% year on year,
- Courier Index: 139.7 points, up 0.14%, up 8.63% year on year.
Less work, more trucks
Demand for transport fell by 9.98% in October, while vehicle availability rose by 11.55%. A year earlier, demand fell by 5.44% and availability rose by 18.83%.
TEG notes that availability growth in the courier sector was weaker than usual. This may be linked to the right-to-work rules introduced on 1 October.
Diesel close to £2 a litre
Falling rates came at a time of high fuel costs. Diesel averaged 199.52p per litre in October, 3.62% more than in September and 39.75% more than a year earlier. Brent crude settled at around $114 a barrel on 28 October, up from about $100 at the start of the month.
“Diesel continues to dominate everyone’s thoughts – not just price and inflation, but also availability,” said Kirsten Tisdale, senior logistics and supply chain consultant at Aricia. She noted that the UK now imports more than half of its diesel, compared with 16% in 2000.
In the Budget, the government extended the fuel duty freeze until 1 July 2027 and kept the £1 annual HGV Vehicle Excise Duty rate until 30 June 2027.
Other figures
The TEG report also shows that:
- the average HGV driver salary rose by 0.49% to £43,653,
- HGV vacancies were relatively stable,
- new HGV registrations rose by 7.2% in the third quarter, the first quarterly growth in two years,
- consumer confidence fell, with the GfK index down 11 points in October.
What it means for hauliers
For operators, October brought the worst combination: lower rates and higher fuel bills. With more trucks chasing fewer loads, it may be harder to pass on fuel costs to customers in the coming weeks. Inflation, at 3.5% in September, adds to the pressure on margins. The Bank of England’s base rate stands at 3.75%, and TEG says a rise to 4% was widely expected at the 5 November meeting.
The drop in rates may also be seasonal or short-lived. The index is still more than 10% above last year’s level, and the run-up to Christmas usually brings more demand for transport.
Earlier this autumn, diesel prices were already pushing up inflation in the UK.
