The Impact of High Fuel Costs on the Trucking Industry
Fuel is one of the key elements that run the whole trucking industry. The soaring costs of fuel have impacted the trucking industry in the following ways:
- Customer Success
All transportation vehicles operate on fuel, which is a significant reason why freight rates are rising with the soaring fuel costs. The recent sudden spike in fuel prices has forced carriers to increase their rates to avoid going into loss. - Increase of operational Costs
The rise in fuel prices has caused the operational costs of a trucking business to increase by many folds. - Temporary service closure
The high fuel costs have forced carriers to close down their services in non-profitable areas. This temporary closure of service is causing disruption in the supply chain of essential commodities.
