While drivers continue to feel the pain at the pump, truck drivers are getting the worst of it as nationwide diesel fuel prices have surged over 76% in the past year to a nationwide average of $5.78/gal, according to AAA data as of June 16, 2022. According to Business Insider, the diesel market is facing its worst crisis since the 1970s. Since diesel powers the industrial economy, the recent uptick in diesel prices will put additional inflationary pressures on the economy, especially in sectors that have already experienced unprecedented inflation such as transportation, agriculture, and construction.
Check out the infographic below created by Michael Wohlfarth, Manager in Opportune’s Process & Technology practice, to get a better picture of how high diesel prices are weighing down the trucking industry and how it’s having a trickle-down effect on households across the country.
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