Trucking paid $62 billion for diesel

Jan. 13, 2005
Trucking paid $62 billion for diesel in 2004

The trucking industry paid a total of at least $62 billion for diesel fuel in 2004, marking a $10 billion hike over 2003, the American Trucking Assns. (ATA) said.

This figure reflects an average national annual price that was 20% higher in 2004 compared with 2003. It is based on a conservative estimate that the total gallons of diesel the industry consumed was equal to that of 2003, ATA noted.

The trade group has projected that total diesel consumption surpassed the 34.6-billion gallons used by heavy trucks in 2003.

“It’s not only the absolute level of diesel prices that hurts trucking companies,” said Bob Costello, ATA’s chief economist, “but also the volatility that has emerged in the market. Price volatility increased significantly during 2004, making it more and more difficult for companies to manage this huge cost.”

Sponsored Recommendations

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

How to Choose the Right Route Planning Solution

This free buyer's guide will help equip you with the knowledge and insights needed to analyze route planning software and vendors in the market and, ultimately, make an informed...

How to Put Your Trucking Data to Work

How fleets can overcome data overload to optimize operations and get ahead.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!