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Higher diesel prices drive up trucking rates

Freight rates for all commodities rose in April as transporters adjusted higher diesel prices by raising freight rates on several routes, Crisil Research said in a report on Monday.

fuel surcharge

Freight rates for all commodities rose in April as transporters adjusted higher diesel prices by raising freight rates on several routes, Crisil Research said in a report on Monday.

However, fleet utilisation was flat on-month in April. Flat utilisation levels, uptick in freight rates, and increase in diesel prices resulted in the industry’s free cash flow falling to about 19% in April from 21% in March. “However, given the geopolitical developments, it is imperative to continue to track diesel prices as market dynamics could change rapidly,” the report noted.

Freight rates for consumer essentials such as FMCG/FMCD, loose goods, and mining applications rose sharply, with rates for discretionary goods such as automobiles and textiles also improving on-month.

This translated into the CRISFrex Index rising on-month to 129 in April 2022 from 121 in March 2022.

Crisil incorporates views of 100-150 transporters to understand freight dynamics and operational aspects, such as the number of trips undertaken and key cost heads (fuel, driver, toll, tyre, and maintenance).

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