Fuel Price Effects on Owner-Operators Hard to Gauge

Once again, all of trucking is feeling the pain of a fuel price crisis, reminiscent of similar cost runups in the late 1970s and 80s.

Once again, owner-operators are probably getting hurt the most by the price spikes – at least that’s the consensus, especially if you talk to independent drivers. They often lack the leverage to enact fuel surcharges to recoup their losses, and they aren’t able to buy fuel in bulk as a large fleet can.

Earlier this spring, as pump prices were spiraling toward the stratosphere, there were dire claims that hundreds of owner-operators would have to park their trucks and walk away, potentially creating a capacity crunch in the industry. The national average diesel fuel price hit a record high of $1.496 per gallon on March 13, according to the Energy Information Administration.

Most in trucking are now publicly saying that owner-operators are hanging on.

But whispers and off-the-record sources tell a grimmer story, although concrete numbers are to come by.

For the full story, see the Apr. 17 print edition of Transport Topics. Subscribe today.