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Trucker on diesel prices: 'We're going to have a lot of bankruptcies'
Yahoo Finance
Trucker on diesel prices: 'We're going to have a lot of bankruptcies'
Ines Ferré · Markets Reporter
Wed, March 30, 2022, 11:44 AM
Independent trucker Michael Whitaker is getting ready for his next haul of equipment from South Carolina to Arizona. Whitaker has been an owner-operator trucker since 1998. His specialty is hauling industrial machinery like construction and farming equipment.
"The diesel prices. That’s every truck driver's main expense, it's diesel," says Whitaker of the recent rise in diesel prices.
Whitaker says at the beginning of the year it cost $600 or $700 to fill up his truck tank. Now, he's paying about $1,000. ... "You notice it into your pocket, oh yes," says the Iowa-based trucker.
The price of diesel has skyrocketed since the outbreak of the Russia-Ukraine war. Diesel averages hit their highest level since 1994 in mid-March.
{snip}
Trucker on diesel prices: 'We're going to have a lot of bankruptcies'
Ines Ferré · Markets Reporter
Wed, March 30, 2022, 11:44 AM
Independent trucker Michael Whitaker is getting ready for his next haul of equipment from South Carolina to Arizona. Whitaker has been an owner-operator trucker since 1998. His specialty is hauling industrial machinery like construction and farming equipment.
"The diesel prices. That’s every truck driver's main expense, it's diesel," says Whitaker of the recent rise in diesel prices.
Whitaker says at the beginning of the year it cost $600 or $700 to fill up his truck tank. Now, he's paying about $1,000. ... "You notice it into your pocket, oh yes," says the Iowa-based trucker.
The price of diesel has skyrocketed since the outbreak of the Russia-Ukraine war. Diesel averages hit their highest level since 1994 in mid-March.
{snip}