What do the experts know about gas prices, diesel prices, and how you can prevent driving into a financial mess!
Gas and diesel prices are reaching record highs, making it more expensive to fuel your truck. The average price of a gallon of gas is now $3.68, up from $3.17 last year. The average price of a gallon of diesel is now $4.14, up from $3.53 last year.
While the cost of fuel is increasing, the average wage received by a trucker has remained stagnant. This makes it more difficult for truckers to profit from their loads. Some owner-operators have had to make the decision to sell their trucks or lease to large fleets.
Truckers are not the only ones feeling the pain of high fuel prices. Airlines, trucking companies, and consumers are all feeling the pinch. Higher fuel prices lead to higher prices for goods and services. This can have a negative effect on the economy as a whole.
What Can You Do?
Gas and diesel prices are expected to continue to increase. Some of the things that you can do to help yourself in these times;
- Plan your loads ahead of time
- Plan the route of your loads ahead of time
- Be sure to budget for higher fuel costs
- Ask your shipper for extra fuel credits for each load
- Join a truck stop or fuel loyalty program
- Make sure your truck is properly tuned-up and running efficiently
- Download a miles per gallon app and watch your MPGs regularly
There are other things that a truck driver can, and should do regularly regardless of the price of fuel. Those include:
- Drive the speed limit
- Avoid rush hour traffic if possible
- Keep your tires inflated to the correct pressure
- Use cruise control when driving on the highway
High fuel prices do not appear to be going away soon, and load rates don’t seem to be going up as fast as fuel prices. Owner-operators and small fleets need to be creative and find ways to keep their businesses profitable. High fuel prices are here to stay, truckers need to learn how to live with them. It is important to stay informed on the latest news and updates on the trucking industry.
Be sure to visit our website www.gwtruckinsurance.com or follow us on Instagram @gwtruckinsurance for more tips.