The latest data on road freight in the UK reports a significant drop in haulage and courier prices, and look to drop further in February. January's TEG Road Transport Price Index data has revealed a substantial decrease in overall haulage and courier prices over the past month, extending a four-year trend of declining prices following the Christmas peak season. 
The average price-per-mile for both haulage and courier vehicles dropped from 127 to 116.2, a decrease of almost 9%. The drop in prices was similar across haulage and courier prices, decreasing 8.7% and 7.8% respectively month-on-month. At the end of January, the price-per-mile of hauliers reached 109.7 and the price-per-mile of couriers reached 122.5 points - both marking the lowest prices since March 2023.
In comparison to January 2023, road freight prices also remain lower. Courier prices have seen the most significant difference, down 2.9% year-on-year. Haulage prices are also below January 2023 levels, though only by 0.6%.
Fuel price savings continue
The lower road freight prices are in part due to the lower fuel prices seen in 2023 compared to the previous year. Petrol is around 10p cheaper per litre than in January 2023, and diesel is around 24p cheaper. Petrol and diesel prices are now at their lowest since October 2021 and July 2023, respectively, contributing to improved profit margins.
Recruitment initiatives on the up
Efforts to address the shortage of lorry drivers continue, including an extension of government-run HGV bootcamps to February 2026. The Skills Bootcamp in HGV Driving was launched in December 2021, providing free training courses and tests for those looking to gain or upgrade their HGV driving qualifications. Based on its successful contribution to reducing the driver shortage, the scheme has been given the maximum possible allocation of £10m to train a further 1,828 candidates.
Road surfacing scheme stalls
The RAC’s 2023 pothole index indicated a lack of improvement in the situation. The number of potholes in Britain was up 33% in 2023 compared to 2022. Road freight operators remain vulnerable to substantial repair costs as progress in the £8.3 billion road improvement initiative is yet to occur. The funding, redirected from the HS2 project, should be enough to resurface over 5,000 miles of roads across England.
Lyall Cresswell, CEO of Transport Exchange Group, says: “The industry is navigating a familiar post-Christmas downturn, which we’ve come to expect, so it’s no surprise January’s data is showing the lowest road freight prices in 10 months."
Kirsten Tisdale, Director of Logistics Consultants Aricia Limited and Fellow of the Chartered Institute of Logistics & Transport, says: "From an industry perspective, the good news is that HGV bootcamps are being extended to 2026."
Further information on the index can be found here: https://transportexchangegroup.com/road-transport-price-index/