Truck rentals fall up to 3.5% in Dec

Truck rentals dropped by 2.5-3.5 per cent on trunk routes on the back of ₹2.84 a litre cut in diesel prices during December 2014. Diesel prices were cut by ₹0.84 a litre on December 1, 2014 and ₹2 a litre on December 15, 2014, along with tepid cargo offering from manufacturing sector and export trade. However, the 15-20 per cent increase in despatches of winter fruits and vegetables saved truck rentals from the extra drop in freight charges, the Indian Foundation of Transport Research and Training said. The research body also criticised the Centre's move to increase excise duty by ₹2/litre instead of passing on the benefit to customers, despite a drop in international prices.