If you feel it’s getting more expensive to keep your eighteen wheels on the road, you’re not alone.
A new study from the American Transportation Research Institute (ATRI) shows that truckers’ operating expenses are increasing nationwide. The study also noted that no ‘substantial improvements’ for the industry were eminent, necessitating truckers to discover new ways to cut costs.
Here’s what the study found.
ATRI Findings: Operating Costs for Truckers are Rising
ATRI reported overall marginal costs of operating a semi-truck at $2.270 a mile, a new record.
Broken down, it’s apparent that the rise is attributable to incremental increases across a variety of trucking-relating expenses:
- Truck and trailer payments increased 8.8% to $0.360 a mile.
- Driver wages increased fleet operating costs to 7.6%, or $0.779 a mile.
- Repair costs rose 3.1%, tacking on another $0.202 per mile.
- Insurance premiums grew considerably, 12.5% to $0.099 per mile over the last year.
Many carriers have waited with bated breath for the market to flip, but the ATRI sees no apparent signs of change.
Carriers must seek novel solutions to reduce costs and maintain a healthy bottom line.
Here are a few ways to receive discounts on some of trucking’s most significant expenses.
Cut Fuel Costs through a Fuel Card
Many carriers are familiar with fuel cards that allow for a discount on every gallon of fuel you pump—but which fuel cards offer the most help?
An excellent fuel card is comprised of three essentials:
- Wide acceptance at hundreds of locations across the nation.
- A deep discount that makes a significant difference on your fuel bill.
- Customizable features to ensure the fuel is servicing the unique needs of your fleet.
The England Carrier Services fuel card meets this criterion with flying colors. If you’re ready to save on fuel, fill out the form below.