Rising fuel prices keep logistics industry on its toes

Rising fuel prices pose a challenge for logistics and transport companies that are now planning to increase the price of their services to retain margins.

Fuel prices contribute to 40-60% of the operational cost for any individual transporter or transport company, industry watchers informed DH. The operational costs have increased in the range of 10-20% for these firms.

WareIQ, which offers next-day delivery for e-commerce companies in India, has seen operating costs rise by 8-10% in recent times.

Harsh Vaidya, Founder, and CEO of WareIQ say the volatility of fuel prices has kept the industry on its toes.