Truckers thought the worst was over. Then diesel prices doubled
Diesel now averages $8.35 a gallon in California, the American Automobile Association said, squeezing small haulers and pushing some freight firms into bankruptcy.
- Diesel prices hit $8.35 per gallon in California this week, up more than 60% from a year ago, straining trucking companies as fuel costs eliminate profit margins for small operators.
- Conflicts in Iran and Ukraine have exacerbated global oil price volatility and refinery supply bottlenecks, compounding the impact of post-pandemic freight volume fluctuations on an already-stressed industry.
- Roadies CEO Avninder Singh reported monthly fuel costs jumped to $450,000, wiping out all profits, while at least 16 freight companies filed for bankruptcy between August and September amid record diesel prices.
- President Donald Trump signed an executive order earlier this week to expand red-dyed diesel use, though analysts cautioned the measure is not a long-term solution as consumer prices for goods like lettuce face increases.
- Supply chain management professor Jason Miller at Michigan State University expects driver capacity to increase in coming months, though Arrive Logistics vice president David Spencer warns the industry remains susceptible to unexpected economic shocks.
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19 Articles
BREAKING: America's Truckers Sound ALARM as Diesel Hits $6.32 — 'Domino Effect' Threatens Grocery Shelves Nationwide
Diesel prices have surged past $6.32 a gallon — shattering Biden's 2022 record — and truckers warn that smaller operators are already cutting routes and going bankrupt, with the pain heading straight for American consumers.
America's truckers issue dire warning as soaring diesel costs threaten 'domino effect' - NEW YORK TIMES POST
NEWYou can now listen to Fox News articles! American truckers are warning that sky-high diesel prices are eating into their profits and putting pressure on trucking companies to cut routes, raising concerns that some drivers could be forced off the road and the pain could eventually reach Americans at the grocery store. “Fuel prices is [...]
America's truckers issue dire warning as soaring diesel costs threaten 'domino effect' – Democratic Accent
American truckers are warning that sky-high diesel prices are eating into their profits and putting... The post America’s truckers issue dire warning as soaring diesel costs threaten ‘domino effect’ appeared first on Democratic Accent .
Diesel costs expose truckers to a cash squeeze
For trucking companies facing a sudden fuel-price jump, the immediate danger is a mismatch between the bill they must pay and the money they can collect. A higher delivery charge may eventually recover the expense. It does not necessarily finance the next tank. At JD & LA Trucking in Wilmington, California, co-owner Angel Diaz recently saw diesel advertised at $8.38 a gallon, against just over $5 earlier this year. The company operates 20 trucks…
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