Diesel Spike Tests Costs for Farmington Freight Fleet
Rising diesel prices driven by the Iran-related oil market disruption and Strait of Hormuz tensions are hitting Farmington-based Leonard’s Express, where fuel is the top expense for its 500-truck fleet. The company has been absorbing much of the volatility while partially passing costs to customers, dodging price swings only weekly as DOE reports come out, and worrying about cash flow and broader effects on shipping and consumer demand. The spike underscores how fuel costs ripple through the trucking industry and the economy until oil markets stabilize.