Price of Diesel Increases
Truck drivers have to manage a number of expenses, one of the most common of which is diesel fuel. Even carriers that cut costs in other areas can’t get around this basic expense. And during this month, which has been known for increases, the price of fuel has also gone up. Diesel is now at $2.54 per gallon.
This 1.3 cent raise from last week brought the total to over 30 cents higher than it was in December 2015. The price increase was observed in all major regions of the US, with a 1.6 cent difference from the highest increase to the lowest increase.
The price for regular gasoline also increased, with a 4.5 cent jump putting it at $2.309 per gallon. This is a 27.5 cent increase from the price this time last year.
There was a 7.7 cent difference between the highest and lowest increase, with the peak coming at 8.8 in the Midwest.
Crude oil prices also increased, mainly due to issues between oil producing countries. As it stands, fuel costs count as roughly 25-33 percent of the average carrier’s expenses. Though fuel costs have presented unique challenges in the past, fuel-efficient engines have been helping many carriers handle increases like these with greater ease.