According to a report released by the American Transportation Research Institute on the 2ndof October, the cost of operating trucks rose by 6% in 2017, averaging at $1.69 per mile, attributing the increment to improved economic activity in 2017, the areas affected included, driver salaries and benefits, fuel prices, costs of leasing or buying vehicles, permits, insurance amongst many others. The comparisons were made from 2009, where the cost of truck operation per hour was at $58, $63.66in 2016, and $66.65 in 2017.
An analysis breakdown depicted how different expenses accounted for the entire cost of operation; with drivers’ wages and benefits consuming the most at 43%, 22% taken up by fuel, the cost of purchase and lease of trucks at 16%, the cost of maintenance at 10%, and tolls and tires consuming 9% of the total cost. The report also captured the costs in terms of different selected regions. The Northeast is at a high of $1.735, The West is at $1.616, Midwest at $1.591, Southeast at $1.533, and Southwest at $1.536. The East has a high living cost, and therefore the cost of operating trucks there is more elevated.
Rebecca Brewster, CEO of ATRI, acknowledges that the most significant increases realized were the driver wages and other benefits, an increment of 33.6% comparing the trend since 2012. The same is attributed to companies' struggle to retain drivers, recruit new drivers, and remain as competitive as possible. The case is the same for the technicians who are high on demand. The costs of repair have also increased due to most trucking companies’ investment in more sophisticated equipment that is quite costly to maintain.
