Diesel prices have reached record levels in the US, significantly increasing the cost of keeping trucks that transport goods on the road.

  • The national average reached $5.85 per gallon this Friday, according to AAA. A year ago, drivers paid an average of $3.7121.
  • This represents an increase of nearly 58% in just 12 months, a difference that becomes even more significant when calculating the cost of filling a tractor-trailer.

Why it matters: The increase affects more than truckers and transportation companies. Higher distribution costs can be partially passed on through the prices of food and other products.

How Much Does It Cost to Fill a Truck in the United States?

How Much Does it Cost to Fill a Truck Tank in the United States, Diesel Prices in the US Hit Record: Truck Fill-Up Costs $641 More
Diesel Prices in the US Hit Record: Truck Fill-Up Costs $641 More – Source: gasprices.aaa.com

One day earlier, Patrick De Haan, head of petroleum analysis at GasBuddy, reported that the company’s live national average had reached $5.820 per gallon.

That figure surpassed GasBuddy’s previous daily record of $5.819, set on June 17, 2022.

AAA reported an even higher average of $5.85 on September 4, compared with $5.7832 the previous day and $5.6105 one week earlier.

  • A long-haul truck can carry approximately 300 gallons in two 150-gallon tanks, according to FreightWaves.
  • At AAA’s current national average, filling those tanks with 300 gallons would cost approximately $1,755.

At last year’s price, the same amount of diesel would have cost approximately $1,113.63.

That represents a difference of approximately $641.37 per fill-up, although this is an illustrative calculation.

Not every trucker purchases 300 gallons at once or necessarily pays the average retail price. Some companies also negotiate fuel rates.

The pressure is even greater in California: AAA reports an average diesel price of $7.7094 per gallon, compared with $5.1381 last year.

  • A hypothetical 300-gallon fill-up would cost approximately $2,313 there, about $771 more than 12 months ago.

From the Truck’s Fuel Tanks to Consumers’ Wallets

The problem extends beyond transportation companies because trucks carry approximately 72.7% of domestic US freight tonnage, according to the American Trucking Associations (ATA).

  • This includes everything from food and agricultural products to refrigerated goods, materials, and merchandise eventually delivered to supermarkets and stores.
  • The Energy Information Administration (EIA) explains that transportation and delivery companies use fuel surcharges to offset fluctuations in diesel prices.

Consequently, part of the increase can be incorporated into transportation costs and move through the distribution chain to businesses and consumers.

However, a 58% increase in diesel prices does not mean product prices will rise by the same percentage.

Fuel represents only one component of logistics costs, alongside wages, maintenance, insurance, and other expenses.

Nonetheless, the record strikes at the heart of the supply chain: The more expensive it becomes to transport goods, the greater the pressure on businesses and consumers.

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