Here come the gas shortages.
Diesel prices hit another new record high on Father’s Day at $5.816/gallon.
Diesel prices have surged over 76% in the past year. Last month, the diesel market is facing its worst crisis since the 1970s. Prices are at a record $5.75, according to data from AAA. For truckers like Resek, that means they're spending as much as $1,700 refueling their trucks each day.
The costs for gas and diesel has yet to hit the American consumer with inflation already at a 40-year high under Joe Biden.
In May Zero Hedge reported:
Major trucking fleets across the eastern half of the US are preparing for an “imminent” diesel shortage, according to logistics firm FreightWaves.
Founder and CEO of FreightWaves Craig Fuller said “3 very large fleets” are preparing for diesel pumps at fuel stations to run dry. Drivers of these fleets received notifications about fuel shortages that could materialize in the coming weeks across the Mid-Atlantic and Northeast regions.
And now the shortages have arrived.
East coast truckers are stranded on the highway waiting for gas. The highway oasis gas stations are out of diesel. Now there are diesel shortages. This is not going to end well.
Watch this trucker describe the situation:
Here's the original clip where the trucker is telling about all the trucks that are stranded because there is no DIESEL FUEL ⛽️ pic.twitter.com/ADhEdonx80
— Joni Job (@jj_talking) June 19, 2022
Business Insider reported:
A Facebook post from the owner of a Texas trucking company went viral last week after he warned that skyrocketing diesel prices could have longterm consequences for the US supply-chain.
Austin Smith, owner of Iron River Express, said it has cost him over $20,000 a week to keep his three trucks running.
“If something drastic doesn't change in the next few weeks/months, I promise you, you'll see empty shelves everywhere you look,” Smith wrote in a post that was shared nearly 290,000 times. “You'll see chaos as people fight for the basic necessities of everyday life.”
Insider spoke with five truckers who warned that the industry could be at a breaking point. The drivers say they've had to get creative in recent months as they work to turn a profit while spending thousands at the pump.
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