How Increasing Gas Prices are Affecting Truck Drivers

Prices have been increasing globally for food, transport, utilities, shipping, etc. Many are being hit by the sudden influx of pricing and those working in transportation are no exception. Trucking businesses are feeling a deep hit to their pockets with increasing gas prices still on the rise, independent truck drivers are wondering if it’s worth it, and larger companies are forced to rethink and readjust budgets and make some costly decisions.

The Price Drivers Pay

An individual trucker makes their money working for larger companies under a contract. They work for carriers and maintain consistent work from those jobs. There are two common owner-operator income programs from these companies: percentage of load, which is a percentage the driver will receive based on the freight load, or mileage, which is based on the miles the driver acquires.

Due to the increase in fuel charges, the individual driver is not making a sustainable profit on those means, as most of what they make goes to filling their tanks, the payout is not worth it anymore. Thus this would result in the to increase the negotiated price or percentage from the broker, which in turn would make the broker increase the amount in the product, and that comes back to the consumer and how much they will spend on the product.

Because of how much money independent drivers are losing, some are contemplating leaving the industry for a while if not permanently, as they are not able to make any money with the economy in this state. Larger companies are in a situation as well where they are needing to raise the price of freight in order to make up for the money they are losing just on gas for their trucks.

Not only is the gas price affecting the pockets, but the safety of drivers as well. Truck drivers travel all over the country, driving 11 per day. If a truck breaks down they will need assistance on the road, no matter where they are, and they should have the support they need. The problem now comes from most mechanics not supplying roadside assistance because they cannot afford the gas bill. Depending on where these drivers break down, this can be a scary and hopeless situation in that sense, and may even cost them, or the company supplying drivers, even more.

There are options other than independent drivers working on their own, but the price is also affecting larger companies who are needing to cut back on certain expenses just to keep up with the rising costs of gas. Money put aside for emergency situations or for making the rides more comfortable, is now used for making sure they can afford a full tank.

It’s becoming hard for drivers to operate under these circumstances, and that does, in turn, affect the people benefitting from these drivers. We are all wondering when the world would go back to normal, and hope that this is not the permanent state of things. Inflation has hit many places and it is continuing to affect people in everyday lives and jobs.

The question now remains: How much higher can these prices go?