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US Truckers Explain How Rising Gas Prices Have Affected Them

Gas prices are hitting an all-time high in recent weeks. Some states are even looking at fuel costs landing above $5 a gallon. And, while we all certainly feel the sting at the gas pump, there is one industry that is being hit the hardest – the trucking industry.

At a Glance

  • Gas prices continue to soar well past $5 per gallon in some areas.
  • Experts are offering tips to Americans looking to cut fuel usage, however many of the tips aren’t viable to those working in the trucking industry.
  • If the cost of delivering goods increases, the cost of goods are likely to increase across the board.
  • Many smaller trucking companies are looking to absorb the increased fuel charges by adding a surcharge to deliveries.

Rising Gas Prices Are Increasing Trucking Company Expenses

The cost of fuel has been steadily increasing over recent months, with some states seeing prices as high as $5.25 in some areas. Automobile experts such as AAA have been quick to offer tips to consumers for minimizing fuel usage as the prices hit all-time highs.

Some suggestions include driving at slower speeds, lightening loads, or carpooling when possible. However, some businesses, such as trucking and shipment companies aren’t able to implement these strategies.

“I’ve been a trucker for forty years and fuel economy to a small business trucker is obviously your biggest expense, next to your truck payment and maybe insurance,” notes Monte Wiederhold an independent trucker from Ohio during a recent discussion with Fox News.

“So, obviously getting good fuel economy has always been a big priority with truckers,” Wiederhold adds.

“Yesterday I paid $5.15 a gallon for fuel,” Wiederhold explains, adding that even though his tank wasn’t super low during the fill-up his total bill came to over $300.

“I got about 75 gallons but it was well over three-hundred something dollars,” the trucker notes.

“This fuel crisis is having a huge impact on us truckers right now,” he adds.

Businesses Are Seeing Shipping Increases With Trucking Surcharges

Wiederhold notes that one way his company, as well as similar businesses, are implementing these major expenses by adding surcharges to their deliveries. A move, Wiederhold says that can save the smaller businesses as they continue to ship goods all over the country.

“I’ve got a small fleet of four trucks. Our current fuel surcharge is 38 percent,” the business owner explains.

“So on top of a thousand-dollar freight bill there’s another $380 added onto that,” Wiederhold says.

Crude Oil Continues to Skyrocket On the Heels of Russia’s Invasion of Ukraine

The price of fuel has been steadily increasing over the last year. However, the major price-jumps we have seen correlate with the Russian invasion of Ukraine late last month.

The Ukrainian invasion is causing an already struggling market to bend even more. And, President Biden’s recent announcement that the U.S. is banning Russian oil imports has caused prices to soar even higher.