The average price for a gallon of diesel was $5,296 on Sunday, up about 4.3% from a week ago and nearly double what it was one year ago.
Gas prices were also higher, reaching $4,187 a gallon on Sunday, slightly down from an all-time high of $4,331 on March 11, according to the AAA.
While ordinary Americans feel the pain at the pump with rising gas prices, the trucking industry has been hit hard by the diesel surge.
“The prices are going up, and we’re still not getting good prices for the loads,” Michel Agboire, who works at Maitland Trucking, said. WNCN . said. “If the price goes up more than this, and the price of the load doesn’t go up, we might call it termination.”
The high cost of diesel is partly passed down to consumers for everything from electronics to groceries.
“To cover the increased cost of diesel, truck drivers must increase the rates charged for freight transportation. These increased prices are then passed on to consumers through higher costs at the retail level,” said Ron Faulkner, president of Faulkner Trucks and president of the 2022 California Trucking Association. , I wrote in an opinion piece on The Sacramento B this week.
“So you’re paying the price for higher fuel prices at both the pump and the grocery checkout line.”
The overall inflation rate was a Four decades high In March, the Consumer Price Index, which measures a broad basket of goods, jumped 8.5% compared to March 2021.
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