Fleet costs jump 21.3%, with fuel by far the leading expense

Fleet operational costs rose 21.3% in 2022 compared to the previous year with the leading factor being fuel. The American Transportation Research Institute reported that between the high fuel costs, pressure to improve pay for drivers, rising insurance premiums, and other expenses plus losses from equipment maintenance, turnover, and excess detention time, fleets are being pinched more than ever.

While fuel costs declined in the second half of the year, the overall cost increase in 2022 resulted in high fuel costs. Driver wages increased over 15% compared to 2021 due to fleets attempting to attract professional drivers and retain current drivers.

Fleets that got new trucks last year were paying a premium for them. Equipment obstacles in the supply chains caused truck and trailer payments to increase by 18.6%. Parts and shortages and rising technician labor rates pushed repair and maintenance costs by 12%.

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