Here’s why this matters: fuel equals about 21% of motor carrier expenses. In 2018, a barrel of benchmark crude oil cost a whopping $72, compared to an average of $60 per barrel at the end of 2017. Diesel prices peaked at $3.37 in 2018, significantly higher than 2017's high of $2.90. As fuel prices soar, shipping companies are increasing rates to transport goods. The cost per mile to ship everyday, non-refrigerated “dry goods” has seen a 40% increase since 2017, according to DAT (Dial-a-Truck) Solutions.
But trucking companies aren’t the only ones being affected. Donald Broughton, author of the Cass Freight Index publication, says that a 10% increase in transportation costs turns into a 1% inflation increase for the rest of the economy. In other words, rising fuel and shipping expenses are creating a massive domino effect. Increasing transportation costs also raise manufacturing and retail expenses, which will eventually hit consumers with higher priced goods.
Let’s look into some practical ways to cut costs:
Trucking companies are taking a real hit from the climbing costs of oil, diesel, and shipping. And as transporting goods becomes more expensive, American consumers are feeling the sting as well.
How can your company meet these challenges? It’s all about efficiency and conservation. Better driving habits and a motivated, fuel-conscious crew will help your company protect profits in the face of rising fuel costs.
These Terms & Conditions govern your use of this website; your use of this website indicates your acceptance of these Terms & Conditions in full.
Kindly note that the information and content provided on this website does not constitute professional advice. Although we do our best to keep everything on this site correct and up-to-date, we do not guarantee the completeness or accuracy of any information provided on this website. Improvements and/or changes in the products, services and/or programs described on this website may be made at any time without notice. We must also advise that hypertext links to other websites do not constitute an endorsement, nor do we guarantee any information provided by those sites.
While we do love when users share what they find on our website, it may be used or shared only for personal purposes. The information and content provided on this website is owned or licensed by Zinc, and should not be used or disseminated for any profit or gain.
While using this website, please be aware that no insurance coverages can be bound and no amendments, supplements, or modifications can be added to your policy, new or existing, unless and until you have received a written binder from us or your insurance company.
For users outside of the US: We make no claims that the content on this web site is appropriate or may be downloaded outside of the United States. If you access the site from outside the United States, you do so at your own risk and are responsible for compliance with the laws of your jurisdiction.
Even though we work hard to ensure the security and safety of our website and its users, we cannot and do not guarantee that this website will operate error-free, nor that this website and its server are without computer viruses or other harmful material. If your use of this website or material from it results in any costs or expenses, we will not be responsible for those costs or expenses. This website and its materials are provided without any warranties of any kind, to the fullest extent permitted by law.
Please bear in mind that we will not be liable for any losses or damages arising under these Terms & Conditions or in connection with this website, whether arising in tort, contract, or otherwise – including, without limitation, any loss of profit, contracts, business, goodwill, data, income, revenue or anticipated savings.
Finally, if for any reason any portion or provision of these Terms & Conditions is ruled to be unenforceable, that provision will be enforced to the maximum extent permissible so as to affect the intent of the Terms & Conditions, and the remainder of the Terms & Conditions will continue in full force and effect.
Thanks for getting in touch! You'll receive a confirmation email shortly.