Record high fuel prices are affecting fleets and the freight market

March 18, 2022

Trucking companies are no doubt feeling the effects of diesel prices surging by more than $1 per gallon over the last two weeks, which took fuel prices to a record high of $5.25 per gallon nationwide during the week ending March 14.

While many fleets have likely been preparing for such a situation due to the increase in fuel prices since the end of 2020, the sudden jump at the pump could have caught some carriers off guard, especially those that only recently got their operating authority during the strong rates environment of the last 18 months.