‘Despite costlier fuel, low demand pulls down truck rental prices’

Low demand has pushed the value of truck leases on key routes downward by 5-8 per cent in May, at the same time as gas costs are on the rise.
Oil advertising and marketing corporations have hiked costs of diesel and petrol by about Rs 4.7 and Rs 4.1 per litre, respectively, because the starting of May, following a 65-day freeze on worth revisions when quite a few states went to polls.
A report by the Indian Foundation of Transport Research and Training (IFTRT) famous that the price of truck leases had fallen 5-8 per cent throughout key routes regardless of rising gas costs as demand fell to 40-50 per cent of regular ranges. It mentioned {that a} 10-15 per cent development in arrival of vegetables and fruit into mandis in May helped stop a good bigger fall in truck leases as demand crashed because of the affect of the pandemic and a number of cyclones.