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.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.
