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FUEL COST TROUBLES * USA - Rising cost of diesel fuel has set off alarms in trucking industry
It could be worse for motorists paying record-high gas prices - Don’t believe it? Ask a truck driver
Kansas,Missouri,USA -The Kansas City Star, by STEVE EVERLY & RANDOLPH HEASTER -21 Mar 2008: -- Higher fuel costs, which threaten to filter into higher consumer inflation, have already set off alarms in the trucking industry... “We’ve been hearing from truckers that have stopped driving for more than three months,” Todd Spencer, executive vice president of the Owner-Operator Independent Drivers Association, said in a statement. “They’ve made the decision to not operate when it’s not economically profitable.” ... Some are hopping mad, alleging that oil and fuel prices are rigged and that they are paying the price. Every 5-cent increase in the price of fuel raises a trucker’s annual fuel cost by $1,000... So is there any hope for diesel prices to decline? If history is any guide, yes. Spring and summer are typically when refinery margins for diesel decline and retail prices also come down... Longer term, diesel prices could still be higher than normal with tighter supply and demand. And that is a worry for the trucking industry...* Truckers in a bind as diesel costs rise
Arkansas,AR,USA -The Democrat Gazette, by LAURIE WHALEN -March 21, 2008: -- The timing of payments for hauling a load becomes more critical for some trucking firms with diesel fuel hovering around $ 4 per gallon... The cost of diesel fuel has risen dramatically since mid-September, when prices surpassed $ 3 per gallon for the first time in the past year... Unlike other operation costs, a trip to the pump is typically an immediate expenditure, while the corresponding shipper’s payment may not arrive for weeks... Greg Carman, president of Carman Inc. in Fort Smith, said he’s paying about $ 30, 000 more this year to burn 23, 000 gallons of fuel needed to move his trucks during a seven-day period. Like other truckers, Carman Inc.’s tight cash flow is why a quick turnaround on services provided by his 50-truck outfit is so important. Carman said, “It’s almost become more important to get a faster payment than it is higher rates" ... The Arkansas Trucking Association said in a news release that it will ask Congress to investigate the record-high diesel fuel prices that are “ threatening the cost-effective flow of goods in the U. S. and the general economy”... The trucking association’s board includes representatives from companies such as ABF Freight Systems Inc. in Fort Smith, FedEx Freight in Harrison, P. a.m. Transportation Services Inc. in Tontitown and USA Truck Inc. in Van Buren... “Congress should examine why supplies of diesel are plentiful, consumption is flat, yet the price keeps rising’’, association President Lane Kidd said in a news release...
Labels: fuel costs troubles
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