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PUBLISHER: The Load Star (www.theloadstar.com)

European road freight rates have hit an all-time high, amid a Europe-wide driver shortage and rising fuel prices.

The latest quarterly European Road Freight Rate Benchmark – calculated by transport Intelligence (Ti), Upply and the IRU – hit 107.6 for the third quarter, its fifth consecutive quarter of growth and the highest level since it was established, in 2017.

“[The benchmark] is 2.9% higher than the same point a year ago,” said Nick Bailey, head of research at Ti.

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