Diesel Prices Rise Sharply, Exceeding $6.28 per Gallon
National diesel prices have surged past $6.28 per gallon as of September 14, marking a nearly 69-cent increase in two weeks according to the Energy Information Administration (EIA). Analyst Dean Croke attributed this rise to ongoing tensions involving Iran and heightened hostilities last week. The rising costs are straining trucking carriers, with some considering parking their trucks due to concerns over operating feasibility. Although diesel is a pass-through cost covered by fuel surcharges tied to EIA data, these adjustments may lag behind real-time price changes, delaying the ability of carriers to recoup expenses fully and promptly. Additional pressures on the industry include weak consumer demand across multiple sectors and regulatory challenges related to driver credentials and safety compliance. These factors are reducing freight volume while also limiting available carrier capacity.
Topics: diesel fuel prices transportation costs