Trucking Marginal Costs Hit Record High Despite Dip in Fuel Prices

Despite a slight drop in the average cost of truck operations last year, marginal costs rose
significantly when lower fuel prices are excluded, according to the American Transportation
Research Institute (ATRI) in a report released on July 1.

The average cost per mile dropped by 0.4% from the previous year’s $2.260, but excluding fuel,
marginal operating expenses jumped 3.6% to $1.779 per mile—a record high for non-fuel costs,
according to ATRI’s Analysis of the Operational Costs of Trucking survey.

While both fuel and repair and maintenance costs declined from 2023 to 2024, and driver wages
rose modestly by 2.4%, carriers were hit hard by other growing expenses. Truck and trailer
payments increased by 8.3% to a record $0.390 per mile, and driver benefits rose 4.8% to
$0.197 per mile.

“The trucking industry is facing the most challenging freight market in years, with loads down
and costs increasing,” said Greg Hodgen, president and CEO of Groendyke Transport, Inc.
“ATRI’s Operational Costs data and the customized benchmarking report that compares us to
similar fleets are more critical than ever as we navigate rising costs and decreasing margins in
this adverse environment.”

An ongoing freight recession was largely blamed for widespread operational impacts. Truck
capacity fell 2.2% as carriers sold off equipment, and the number of drivers per truck dropped to
0.93 as some trucks were parked. Empty miles increased to 16.7%, and non-driver staff was cut
by 6.8% as part of broader cost-control efforts.

“At the same time, though, average truck age, average dwell time per stop, and mileage
between breakdowns improved—all testaments to industry performance despite economic
headwinds,” the report said.

ATRI noted that the industry still lacks a catalyst to reverse the multi-year downturn that followed
the post-pandemic freight boom, even as some parts of the U.S. economy continue to post
growth.

“Unfortunately, in trucking—and specifically in the dry van, flatbed, and refrigerated
sectors—nationwide contract and spot freight rates continued to slide over the year,” the report
added.