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Trucking Industry

All articles tagged with #trucking industry

business2 days ago•3 min saved

California Truckers Face Existential Crisis as Diesel Hits $8.35 and Driver Shortages Worsen

California’s trucking sector is collapsing under record diesel costs and a shrinking driver pool. Diesel prices in California reached $8.35 per gallon, 32% above the national average, wiping out margins for small operators. Simultaneously, federal enforcement actions have removed thousands of immigrant drivers, forcing companies to cut fleets and raise rates. While large carriers may see improved rates, small owner-operators are facing bankruptcy, with 16 firms filing for insolvency between August and September.

via Los Angeles Times|

#business #california-economy #diesel-prices

business3 days ago

Diesel Costs Trigger Wave of Trucking Bankruptcies as Prices Stay High

Sixteen trucking companies filed for bankruptcy in late August and early September, driven by soaring diesel costs. While some operators were small single-vehicle outfits, others managed large fleets. The financial strain is exacerbated by years of poor freight economics and intense competition, making it difficult for carriers to pass fuel costs to customers. Diesel prices remain elevated, with no significant relief expected before the holidays due to ongoing geopolitical tensions in the Middle East and rising winter demand.

via The Drive|

#bankruptcy #business #diesel-prices

energy-and-politics3 days ago•413 min saved

Industry Groups Warn Against Trump's Red Diesel Order Amid Logistical Hurdles

President Trump signed an executive order deferring federal excise taxes on 'red dye' diesel for highway use through year-end, aiming to lower record fuel costs before the November midterms. While the White House claims this will save truckers over $100 per fill, major industry groups warn the move offers minimal relief due to logistical barriers, lingering tax liabilities, and unresolved state restrictions.

via NBC News|

#diesel-prices #energy-and-politics #fuel-tax

economy3 days ago•11 min saved

Trucking Groups Call Trump’s Diesel Tax Deferral 'Minimal Relief' Amid Record Prices

President Trump signed an executive order on October 5, 2026, deferring the federal excise tax on dyed diesel for on-road use through year-end. While the White House claims this will save truckers up to $100 per fill, major trucking associations called the move 'minimal relief,' citing implementation complexities and limited fuel availability. Diesel prices average $6.31 per gallon, $2.64 higher than last year, creating political pressure ahead of November midterms.

via Politico|

#diesel-prices #economy #midterm-elections

business18 days ago•3 min saved

Long-term contracts pin trucking firms as diesel surges

JLT Trucking, a Washington, D.C.-area waste-collection operator, says rigid long-term contracts prevent it from passing rising diesel costs to customers, leaving about $100,000 per month in extra fuel expenses as diesel climbs toward record levels and is up nearly 60% since the Iran conflict began, threatening investments, jobs, and customer relations.

via ABC News - Breaking News, Latest News and Videos|

#business #diesel-prices #energy-prices

business4 months ago•5 min saved

Industry Groups Push Back on Short-Term Federal Gas Tax Holiday

Trucking and construction trade groups oppose a proposed temporary pause on the 18.4-cent federal gas tax (and the 24.4-cent diesel tax), arguing it would drain the Highway Trust Fund and undermine highway and transit funding even as gas prices rise amid the Iran conflict; the idea has mixed support in Congress, with a three-month pause potentially adding billions to the deficit if no offset revenue is found.

via CNBC|

#business #gas-prices #gas-tax

business6 months ago•31 min saved

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.

via 13wham.com|

#business #diesel-prices #freightshipping

businesstransportation2 years ago•5 min saved

"Biden Administration's New EV Rules Spark Controversy in Trucking Industry"

American truck drivers are raising concerns over the Biden administration's plan to push for the heavy-duty vehicle sector to go all-electric, citing limitations in electric vehicle technology such as battery performance in cold weather, shorter range, and longer charging times. They argue that the lack of high-powered charging infrastructure and power grid upgrades needed for fueling vehicles would present additional problems. Industry groups and individual truckers are criticizing the regulations as burdensome and expensive, while the EPA defends the rules, stating that they will deliver substantial public health benefits.

via Fox News|

#biden-administration #businesstransportation #electric-vehicles

businesspolitics2 years ago•2 min saved

"Biden Administration's New EV Rules Spark Controversy in Trucking Industry"

The Biden administration's new emissions regulations for heavy-duty vehicles have sparked outrage among small business truckers, with the Owner-Operator Independent Drivers Association warning that the measures could put many independent drivers out of business. The regulations, announced by the Environmental Protection Agency, aim to make a large number of trucks and buses zero-emissions by 2032, but critics argue that the operational challenges and infrastructure requirements pose significant obstacles. The administration claims the regulations will lead to significant greenhouse gas emissions reductions and societal benefits, but industry representatives are concerned about the practicality and potential impact on livelihoods.

via Fox Business|

#biden-administration #businesspolitics #emissions-regulations

business2 years ago•2 min saved

Yellow's Bankruptcy: XPO's Acquisition of Service Centers and Real Estate Sale Approved

Bankrupt trucking company Yellow Corp has received court approval to sell most of its shipping centers and real estate to multiple buyers for $1.88 billion, effectively ending a bidder's attempt to keep the company intact. The sale will generate enough cash to pay off the company's pre-bankruptcy debt, including a $700 million COVID-19 relief loan. Yellow is still seeking buyers for its remaining real estate and fleet of trucks. Despite pressure to keep the company intact to save jobs, Yellow chose to break up its assets. Trucking company XPO Inc was the largest buyer in the approved sale, acquiring 28 shipping centers for $870 million.

via Reuters|

#bankruptcy #business #job-losses

business2 years ago•8 min saved

Yellow's Bankruptcy Battle: Truckers, Economy, and Revival Offers

A group of investors led by trucking executive Sarah Riggs Amico is attempting to salvage bankrupt trucking giant Yellow (formerly YRC) with a billion-dollar bid, but executives from the company have turned down the offer. The investors are hoping that the courts and the Treasury Department will allow them to prevail, but the Treasury Department has stated that the $700 million CARES Act loan cannot be modified. A bipartisan group of senators has supported efforts to save Yellow and its 30,000 jobs. Yellow's closure has disrupted the lives of truckers and left a void in the economy, but experts say the impact on the industry has been minimal. The less-than-truckload (LTL) market, which Yellow operated in, has seen increased rates since Yellow's closure, but overall, the market has been able to absorb the loss. Amico and her investors face challenges in navigating auctions, regulations, and obtaining court and government approval for their rescue package.

via CNBC|

#bankruptcy #business #sarah-riggs-amico

business2 years ago•1 min saved

Yellow Trucking Company Rejects Bid to Revive Operations, Suspends Auction of Leased Terminals

Defunct cargo hauler Yellow Corp has rejected an offer to revive its operations, stating that the offer is unlikely to cover the costs of its bankruptcy case and restructuring fees. Yellow Corp has been out of business for several months and is nearing the end of an auction process that will bring creditors at least $1.9 billion.

via Bloomberg|

#bankruptcy #business #offer-rejection

transportation3 years ago•8 min saved

Unprecedented Freight Recession Shakes History

The freight recession currently impacting the trucking industry is unlike any other in history due to the significant role played by freight brokerages. Over the past two decades, freight brokerages have grown from representing just 6% of the market to handling more than 20% of all trucking freight. They have reshaped the typical freight cycle by offering a more compelling product than asset-based carriers, leading to multiple brokerages being in primary positions in shippers' routing guides. This has benefited small carriers, who rely on brokerages for leads and business. However, the current recession has been slower to purge capacity due to the proliferation of freight brokers, who have maintained load volumes even as rates fall. It is predicted that it will take approximately 78 weeks for the market to reach a balance between supply and demand.

via Yahoo Finance|

#capacity-imbalance #freight-brokerages #freight-recession

transportation3 years ago•3 min saved

"Advocates push for safer roads as parked semi-trucks threaten drivers."

Parked semi-trucks pose a danger to drivers, with thousands of accidents and fatalities occurring near interstate on and off ramps. The lack of available parking spots for big trucks forces drivers to park in unsafe areas, leading to collisions. Transportation Secretary Pete Buttigieg acknowledges the problem and emphasizes the need for safe parking options. Efforts are being made to expand truck parking at rest stops through federal funding, and legislation is being proposed to allocate additional funds for truck parking expansion. The push for change comes after tragic accidents, such as a collision involving a Greyhound bus and parked semi-trucks in Illinois. Families affected by these accidents are calling for stricter laws to restrict big rig parking.

via CBS News|

#legislation #parked-trucks #safety

business3 years ago•7 min saved

Truckers and States Push Back Against Biden's Climate Regulations

Truckers are warning that the Environmental Protection Agency's (EPA) new emission standards, aimed at reducing air pollution from heavy-duty engines and vehicles, will have catastrophic effects on the American food supply. The trucking industry, which is predominantly made up of small businesses, argues that complying with the EPA's clean energy mandates will push many companies out of business, leading to a tightening of trucking capacity and severe price inflation. Truckers also express concerns about the practicality of electric vehicles, including limited driving range and the weight of lithium batteries, which would result in reduced payload capacity. Critics argue that the regulations prioritize green energy over the economy and fail to address infrastructure and testing challenges.

via Fox News|

#american-food-supply #business #emission-standards