Latest fuel hike deals another blow to truckers

Alan Peat
THE TRUCKING industry has been hard hit by major price increases in the past year, amounts difficult to recover in a marketplace where higher rates tend to lose business.
Prime concerns have been the capital cost increases in vehicles, and the troublesome rise in the cost of money.
According to figures from road transport specialist Nic Fourie in Cape Town Ð who charts price increases against a seven-axle interlink Ð both these have risen by almost 55% over the period October 2001 to November 2002.
The interest rate has also jumped thanks to the Reserve BankÕs battle against inflation Ð rising from 11% to 17% in the same period.
But lubricants and fuel have also played a significant role in pushing up costs, both of these for heavy vehicle usage having risen by over 20% in the last year.
And the latest fuel cost increase Ð of which Fourie has taken account in his calculations Ð has added to an already worrisome operating cost for heavy vehicles
At midnight on November 5/6 came the bad news that petrol was up five cents a litre, and diesel by a whacking 18.8c/l, percentage increases of 1.19% and 5.024% respectively.
The two new prices Ð 393 cents per litre for diesel, and 426c/l for 93 octane petrol (both Gauteng prices) Ð are only a continuation of an upward rise for most of the past year.
Since last October, diesel has risen by 20.6% and petrol by 13.6%, although both fuels have also fluctuated downwards for brief periods in the year.
With the usual oil price stimulant of the northern hemisphere winter, and OpecÕs determination to keep supplies tight and costs up, this is likely to continue to be a problem for truckers over the next six months