Higher diesel prices push up truck rentals in first week of January: IFTRT
Truck rentals on trunk routes – which are the main routes on which cargo moves across the country – increased by three-four per cent during January 1 to January 6, against the prevailing rates in December 2019, a freight rate tracking body has said. Freight rates in December were 2-2.5 per cent lower than those in November 2019.
If fuel prices keep rising due to the US-Iran conflict and if the rupee depreciates further, then the economy could be in for a fix, said the Indian Foundation of Transport Research and Training (IFTRT), a body that tracks truck prices.
December 2019 witnessed a Rs 2.16 a litre (ex-Delhi) increase in diesel prices, while full truck load rentals declined further by 2-2.5 per cent on trunk routes due to the general economic slowdown.
