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Businesses * USA - Truckers feel pain of higher diesel prices
Shipping costs have risen 20% in the last year and look likely to rise even more.Washington,DC,USA -USA TODAY, by Barbara Hagenbaugh -12 Nov 2007: -- ... That has put pressure on her margins... Diesel prices have surged in recent weeks to record levels, putting a strain on truck drivers, businesses and, potentially, the economy, at a time when economic activity is already slowing... Independent truck driver Lee Klass, 59, of Portland, Ore., says while he has been able to pass along some of the increased fuel costs to his customers, the prices have gone up so quickly, he can't keep up... American Trucking Associations chief economist Bob Costello says he expects high diesel prices will push some struggling trucking companies out of business. But the problem could have been much worse: Trucking firms are having more luck imposing fuel surcharges than when prices soared a few years ago, he says... That said, trucking companies don't get the surcharge for travel in between jobs, for example, if a driver drops off a load in Milwaukee, then has to travel to Chicago to pick up the next load. And the surcharges often don't cover the full increase. Trucking companies can only raise the price so much before customers turn to trains, which use far less diesel than trucks, says Stephen Brown, director of energy economics at the Federal Reserve Bank of Dallas... (Photo by Robert Deutsch/USA TODAY: High diesel prices will push some trucking companies out of business, an American Trucking Associations official predicts)
Labels: fuel costs
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