The rising fuel cost is affecting everyone, especially those in the trucking industry. In July 2021, we are seeing gas prices at $3.00 a gallon or more across the country. This is due to the high cost of oil at around $68.00 per barrel. Discover the effects of high fuel prices on the trucking industry and how companies adapt and survive.
Rising Costs Everywhere!
When fuel costs go up, trucking companies have to charge more to businesses for shipping their products. In turn, businesses raise prices on their products to cover the increased cost of shipping them. This means customers find a higher price tag on the food, furniture, pet supplies, and countless other commodities. So, the rise in fuel costs doesn’t just affect the trucking industry; it triggers a domino effect right down the line.
Rising Costs Within Trucking Companies
In the interest of cost management, trucking companies have to charge more for their shipping services to offset some of their own costs. For instance, the price of a trailer has increased by thousands of dollars due to the higher prices of aluminum, steel, lumber, and other materials used to make them. Another increasing trucking cost is for driver insurance coupled with their food and travel expenses.
Trucking Companies Are Adapting
While there’s nothing the trucking industry can do about high fuel prices, companies can take steps to adapt.
Improving Fuel Efficiency
Properly inflated tires can decrease rolling resistance. When rolling resistance is lowered, it raises fuel efficiency and reduces the trucking cost.
Modifications
Some modifications can be made to trucks to make them more fuel-efficient. This is beneficial at any time, but particularly when diesel prices are high. Replacing the exhaust system, getting new air springs, or installing an oil catch can are some examples of helpful modifications.
Utility’s Aerodynamic UAT system and side skirts can save your fleet up to 8% in fuel savings and was voted one of the 20 best products by Heavy-Duty Trucking Magazine.
Continuing Driver Education
Many trucking companies provide continuing instruction to drivers on practical steps they can take to increase fuel efficiency. One tip is to practice the habit of speeding up and slowing down gradually. Plus, when possible, use the truck’s momentum to increase speed to navigate hills instead of relying on the gas pedal.
Fortunately, trucking companies have some things they can do in the name of cost management, even when experiencing a significant surge in fuel prices.
If you have questions or would like a quote on adding money saving modifications to your current fleet, please reach out to us at 636-757-0500.
