The average total operating cost to run a truck in 2012 fell 4.3% to $1.633 per mile as trucking carriers trimmed outlays to cope with soft freight volumes, the American Transportation Research Institute said in a Sept. 4 report.
Costs fell despite a jump in spending on fuel that became the highest single cost for carriers at 64.1 cents per mile, or 39% of operating expenses. While fuel costs rose 5.1 cents per mile on a year-over-year basis, driver pay and benefits dropped 7.8 cents per mile to 53.3 cents to constitute 33% of operating costs in 2012.
“An uncertain economic future means we have to be ever diligent in watching costs. ATRI’s report provides critical financial data for carriers to use in benchmarking fleet performance and seeking opportunities for improved operations,” said Phil Byrd Sr., CEO of Bulldog Hiway Express in Charleston, S.C., and first vice chairman of American Trucking Associations.
Last year’s overall cost decline from $1.706 per…
By Rip Watson, Senior Reporter
This story appears in the Sept. 9 print edition of Transport Topics.