Many people mistakenly believe that the cost of owning a truck is only incurred at the fuel pump, but it is not the only factor to consider when determining the overall costs of owning and running a truck.
Fuel
As fuel prices have skyrocketed over the last few years, fuel is now the biggest expense for operating a truck. For truckers in the United States, it is estimated the total yearly cost of running a truck is approximately $180,000, with about $70,000 spent on fuel per year. This cost is the responsibility of the truck owner. And, with rising oil costs, in addition to fuel taxes, the costs of operating a truck are set to rise even further, without a corresponding rise in salary.
Driver’s Salary
Though driver’s salaries make up the second biggest percentage of commercial truck operating costs, this is calculated according to the distance traveled, and fails to consider the time drivers spend in traffic, docks, and checkpoints. Many drivers are expected to assist with loading and unloading freight, and very few are financially compensated for their time.
Cab and Trailer Maintenance
In addition to fuel, drivers are also responsible for the costs incurred for maintaining their cab and trailer. This makes up approximately 17% of the total operating costs. Of course, this does depend on of the configuration of the truck, but for an average tractor trailer, this can cost around $30, 000 annually.
Repairs
As well as general upkeep, another factor that needs to be considered is the annual cost of repairs and maintenance to the engine. This can include repairs to wiring, air lines and hoses, brakes, and alternators, all of which need to be regularly maintained to ensure the longevity and performance of the truck. Unfortunately, this can cost up to $10,000 annually.
Insurance, Permits, and Tolls
Finally, there are numerous smaller costs that, once totaled together, make up a significant portion of the annual cost of running a truck. For example, drivers are often required to take out multiple insurance policies which can cost up to $6,500 per year. Routine tire changes, necessary for the safety and performance of the vehicle, cost around $250 per tire, which is over $4,000 to change the tires on an 18-wheeler every year. And the cost of tolls, permits, and licenses, also contributes to the rising costs of truck ownership.
Final Thoughts
Unfortunately, while the average cost of owning and running a truck continues to rise every year, driver salaries remain relatively stagnant. This leaves drivers struggling to remain competitive in an industry that is the backbone of the U.S. economy. Join today and help truckers take a stand against unfair operating costs, and help keep the economy moving.
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