Truckers, companies make adjustments as diesel fuel prices surge
While drivers continue to feel the pain at the pump, truck drivers are getting the worst of it as diesel fuel is close to $6 a gallon in Maryland.
WBAL-TV 11 News spoke with truckers and trucking companies as they keep commerce flowing at a much higher price.
Truckers and trucking companies are really starting to feel the pinch. They have to raise their rates which, ultimately, leads to higher prices in the store. Some independent drivers said they may park until these diesel prices come down.
"One-hundred-four gallons total what I put in that. $622," truck driver Corey Smith said.
Smith said his bottom line has taken a beating since diesel fuel prices jumped to almost $6 a gallon on average nationwide.
"It's really hurting the paycheck, you know. I wish it would come down but what can we do it, right?" Smith said.
Right now, the average price for a gallon of diesel fuel is $5.98, almost $3 higher than this time last year.
Joe Marino is vice president of sales for MTS, a family-owned trucking company in Baltimore. They primarily ship roofing materials around the country.
Marino told 11 News higher fuel prices have caused his company to pivot a little like it did during the coronavirus pandemic, forming exclusive relationships with a truck stop company to make sure they get the best price and will always have access to fuel.
"Instead of chasing the next penny off from a petroleum supplier, we leverage our partnerships, we deepen the bond with our suppliers to make sure that A, we have decent pricing and that B, we have availability of the supply," Marino said.
Marino also said they've actually been hiring more drivers lately, especially former independent drivers who cannot afford the high fuel costs on their own.
In the end, companies like MTS will continue to drive the market, making sure goods get where they need to go -- just at a higher price for now.
"What that does is it does make the cost of transporting goods from point A to point B a lot more expensive both for the truckers and the end users," Marino said.
Economists feel rising interest rates along with inflation, which is being fueled by the high fuel prices, could lead to a recession in the future.