Anyone wondering why they’re paying more for the food and goods they consume, one of the reasons is the higher cost of diesel fuel. When the cost of diesel increases, trucking companies pass the additional cost on to their clients. That cost is again passed on to the consumer for the items they purchase. The high price of diesel is affecting the heavy haul industry in multiple ways.
Everyone has been feeling the pain at the pump, and nowhere is that truer than for those in the trucking industry. Prices have increased for diesel fuel at a far greater and faster rate than regular gas. The war in Ukraine has resulted in more oil being exported to countries in the UK and South America. That’s increased demand for domestically produced fuel – it’s a matter of supply and demand.
Some trucking companies and independent truckers say their jobs are no longer profitable. It’s led some to leave the industry, placing a further strain on deliveries to outlets that are already experiencing pandemic-related supply chain issues. Drivers are working more hours and are more stressed as they try to make up for a loss in profits.
Truckers say the current level of diesel prices is making trucking an unsustainable industry. They’re predicting empty shelves across the nation as consumers fight for basic necessities. Drivers are reporting a greater number of diesel fuel thefts from trucks as prices increase. They warn of more companies going out of business in an industry that’s already experiencing a driver shortage of approximately 81,000.
Higher diesel prices mean the per-mile charge for the trucking industry has increased and its outstripping fuel surcharges. Big box stores that move the greatest number of goods factors in the cost of fuel in their on-the-shelf pricing and for their quarterly earnings.
The cost of diesel fuel is affecting all sectors of the trucking industry. It costs more to transport seeds and agricultural products, harvested food, and manufactured goods. Some manufacturing plants also use diesel fuel, further increasing an already stretched demand that’s affecting every aspect of the trucking industry.
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