If you are wondering about rising gas prices, consider the impact of high fuel prices on shipping.
New tractor-trailer rigs have fuel tanks that hold 300 gallons. At $3 per gallon, the driver on a typical run fills up twice at $900 for each tank or $1800 total. At $5 the cost is $1500 or $3,000. At $6, it is $1800 or $3,600.
In 2014, the average cost of diesel was $3.893. In 2016, it was $2.35. In May of 2022, it was about $5.75.
With prices nearly doubling, the 15.5 million trucks in the U.S. are still on the road, but shipping costs are passed on to consumers.