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Tag: costs
Patchwork of provincial rules drives up trucking costs by 8%, trade expert says
Canada's patchwork of provincial regulations costs the economy about $1.6 billion a year and increases the cost of trucking services by more than 8 per cent, according to interprovincial trade expert Ryan Manucha, who said ongoing harmonization efforts could bring significant benefits to carriers and the broader economy. Institute senior…
The spot market is tightening as fuel costs, Roadcheck and cross-border demand rise
The North American spot commodity market continued to show signs of tightening through April and May due to higher fuel costs, stronger demand for outbound Canadian cargoes and severe disruption associated with the International Traffic Control week. DAT Freight & Analytics reported that freight and contract spot prices rose sharply…
Geotab launches fuel and idle tracking tools to help manage fuel costs
Geotab has introduced new MyGeotab tools aimed at helping fleets monitor fuel usage and cut unnecessary costs as diesel prices continue to rise. The company announced the launch of Fuel Trading and a new, improved avoidable idling rule on the MyGeotab platform, targeting what it says are two key sources…
Rising diesel costs widen gap between new, aging trucks, data shows
A new analysis by Fleet Advantage shows that fleets using older equipment face significantly higher operating costs as diesel prices rise, enhancing the business opportunity for faster replacement cycles. The company's latest Truck Lifecycle Data Index (TLDI) compares total operating costs for Class 8 trucks from the 2022-2026 model years…
FINANCIAL TRENDS TRANSPORTATION: Trailer orders surprise up, spot prices keep pace with rising diesel costs
What's rising faster, diesel prices or spot interest rates? It depends on the type of cargo you are carrying. More on that later. First, trailer orders in March surprised analysts with their strength, although they remain well below their 10-year average. (Source: FTR) The trailer commands surprise from the top…
High diesel prices could hit consumers harder than gas costs – for months
High diesel prices continue to ripple through the economy and put pressure on consumers - with no end in sight - even as a shaky ceasefire in the Middle East offers a sign of relief to global commodities. The average wholesale price of diesel remained more than 55% above pre-war…
Pulse Research: Readers talk about insurance costs
Commercial insurance premiums remain one of the most pressing costs for the truck industry, with 84% of respondent readers reporting increases in the last two years - and above half describing the impact as "moderate" but ongoing economic pressure. The latest research on today's truck's Pulse Reader asked how readers…
Fare fraud costs companies $400,000 on average: TIA report
The transportation industry faces an average fraud cost of $402,344.47 per company, with truckload identified as the most vulnerable mode, according to the Transportation Brokers Association's latest State of Fraud in the U.S. Transportation and Logistics Industry Report . Of the 200 TIA members surveyed, almost 98% indicated that trucking…
Parts and labor costs continue to decrease
Parts and labor costs continued to decline in the first quarter, according to the latest survey by the Technology & Maintenance Council (TMC) of the American Trucking Associations and Decisiv. Combined parts and labor costs fell 1.7% in the first quarter, according to their latest benchmarking report. (Photo: Leo Barros)…
Insurance, driver pay, truck payments increase operating costs in 2023: ATRI
US trucking costs hit a new high of $2,270 per mile in 2023 – while this marked a new record high, it's a modest 0.8% increase from the previous year. However, excluding fuel, annual cost growth was a significant 6.6%, with driver wages, trucking payments and insurance premiums rising sharply.…