The American Transportation Research Institute (ATRI) has released its 2024 Analysis of the Operational Costs of Trucking, revealing that the operational costs of trucking have reached an all-time high. According to the report, the cost per mile in 2023 soared to $2.27, marking a 0.8% increase from the previous year, or a 6.6% rise when excluding surcharge-protected fuel costs. This significant rise in operational costs underscores the pressing need for cost-effective solutions within the industry.
ATRI’s findings highlight that while overall expenses increased moderately in 2023, several key cost components experienced notable changes. Truck and trailer payments surged by 8.8% to 36 cents per mile, driver wages climbed 7.6% to 77.9 cents per mile, and repair and maintenance costs saw a 3.1% rise to 20.2 cents per mile. However, only truck insurance premiums and tolls experienced double-digit increases, with insurance premiums jumping 12.5% to 9.9 cents per mile and tolls escalating by 21.4% to 3.4 cents per mile. Interestingly, fuel costs decreased by 13.7% to 55.3 cents per mile.
The ATRI report notes, “Many of the high-level macroeconomic conditions that challenged businesses in 2022 moderated. In 2023 inflation rates cooled to 3.4%, GDP growth improved significantly in the second half of the year and many cost centers in the trucking industry stabilized.” Despite these positive economic indicators, the trucking industry faced declining contract and spot rates, freight shipments, spend, and tonnage, putting additional strain on operational costs.
As trucking companies navigate these financial challenges, Diesel Direct's on-site fueling services offer a strategic advantage. By providing efficient and reliable fueling solutions directly at clients’ locations, Diesel Direct helps mitigate some of the rising operational costs identified in the ATRI report.
Benefits of Diesel Direct’s On-Site Fueling Services
1. Cost Savings: On-site fueling eliminates the need for trucks to travel to off-site fueling stations, reducing fuel consumption and saving valuable driver time. This directly addresses the increased costs of driver wages and truck/trailer payments highlighted in the ATRI report.
2. Improved Efficiency: With on-site fueling, trucks are ready to hit the road without delays, enhancing overall operational efficiency. This efficiency can help offset rising repair and maintenance costs by ensuring vehicles are better maintained and less prone to unexpected breakdowns.
3. Convenience and Reliability: Diesel Direct’s services are designed to fit seamlessly into clients' operations, providing a reliable fuel supply without the logistical challenges of managing fuel inventory and transport. This reliability is crucial in an industry where consistent operations are vital to managing costs effectively.
4. Enhanced Fuel Management: Our Fuel Intelligence Software provides detailed usage reports, helping clients monitor and optimize fuel consumption. This transparency and control are essential for managing fuel costs, especially when fuel price fluctuations can significantly impact overall expenses.
Utilizing Diesel Direct’s Mobile Fueling Savings Calculator
Diesel Direct is committed to delivering fuel and savings directly to you. Our Mobile Fueling Savings Calculator on our website is an essential tool for understanding how much your organization can save with our fuel delivery services. Here’s how it works:
Delivering Fuel and Savings Directly to You
With Diesel Direct’s convenient premium fuel and DEF delivery, we can save you time and money. We can deliver on-site, off-road, and everywhere in between, so that your drivers have less downtime and more support to get to their final destination on time.
Calculate Your Savings
How much time and money could you save? Enter a few details into our easy fuel calculators and find out for yourself. We’re here to help you save, when you’re ready.
By leveraging Diesel Direct’s on-site fueling services and utilizing our Mobile Fueling Savings Calculator, trucking companies can better navigate the financial pressures outlined in the ATRI report, ensuring their operations remain efficient, cost-effective, and competitive in a challenging market landscape.
For more information on how Diesel Direct can support your trucking operations, contact us today. Together, we can fuel your business forward.
