According to data provided by the Transport Exchange Group (TEG) via their road transport price index, haulage prices increased by 3.56% in April 2023. This occurred despite the falling cost of diesel. Year-on-year, these prices were down by 2%, although, as courier prices have gone up by 3.6%, meaning that the overall index shows a figure higher seen in April of 2022. 

TEG also stated that while diesel costs have come down significantly, crippling inflation combined with HGV driver shortages and supply chain issues have resulted in transport prices remaining stubbornly high.

UK’s Supply Chain Issues Costing £12 Billion a Year

The latest figures show that the UK economy has been losing a colossal £12 billion to supply chain issues, and CEO of Integra (a TEG Data Firm), Lyall Creswell, had this to say…

“Falling diesel prices are very welcome news for the industry. It reduces a day-to-day expense for everyone, making every mile cheaper. But it’s clear that there are more permanent problems affecting hauliers’ and couriers’ prices. 

One of those is the driver shortage, so it’s encouraging to see the government once again taking action to get new drivers on the road. Another issue altogether is supply chain costs. 

Streamlining operations through digital solutions can help greatly here, so I’d encourage any road freight transport company to build digital tools into everyday processes.”

“The TEG Index Usually Rises at This Time of Year” – Aricia 

Also speaking on the matter was Kirsten Tisdale, director of logistics and supply chain consultant firm Aricia, who added her take on things…

“The courier element has always gone up in April, but this year’s increase was the smallest” she said. The haulage element has also gone up in April but continues to be deflationary against last year – despite accusations of profiteering in this sector, this is the 11th month running for which spot rates have been lower year-on-year.”

So, while these figures paint a bleak picture for haulage companies trying to make ends meet, the news relates primarily to couriers. That said, anything that can be done to reduce costs across the board would be warmly welcomed. 

Helping Firms Reduce Costs With Industry-Leading HGV Training

A lot is happening right now in the UK’s haulage industry, as the government, along with leading industry bodies and trainers like ourselves seek to provide stability back to the sector. Costs will likely fluctuate as we move to EV trucks, so it’s important to do whatever you can as a haulage business to protect yourself against these challenges. 

Needless to say, we’ll be monitoring things closely while continuing to offer industry-leading HGV training via our enormous national network of HGV driver training centres. Able to be scaled to meet any size of requirement, our training helps companies to minimise the impact of a lack of drivers and take control of their logistical needs. 

If you’d like to find out more about us and what make us different, take a look around our website or to get in touch, simply call 0330 818 8888 or click on ‘contact us’ today.