As we reported a little while ago, there is going to be a big jump in fuel prices which will directly impact the trucking industry. While there is currently a push to hire new people to combat the lack of drivers needed to carry capacity loads, trucking companies are going to have to do some planning to get the fuel they need while still being able to make payroll.
Fuel Prices and Big Boats
In 2019, seafaring vessels used for shipping will be switching to diesel fuel. This shift to cleaner petroleum will cause major disruption for industries that rely on diesel. Fuel prices are expected to skyrocket as we move closer to 2019 and continue to rise thereafter. Large trucking companies are already batting around plans for switching over to electric vehicles, while others are lobbying to loosen the regulations on emissions. For now, everything may seem like it’s in a holding pattern.
Whether some companies start using electric trucks or deregulation occurs is up in the air. Both could take years to accomplish. For the here and now, truckers and fleet owners are running on tight schedules to ensure shipments get to their destinations quickly. Considering fuel expenses currently make up 20 percent of operating costs, the trucking industry as a whole needs to make plans for a price hike by 2019.
Fuel Cards & Fuel Advances
Fuel cards are a great way to save on prices at the pump. Fuel cards allow truckers to pay less per gallon at thousands of locations throughout the United States. Additionally, fuel cards offer a number of benefits such as discounts on equipment, savings on tolls, and even legal protection. Fuel advances ensure drivers and fleets can keep hauling, even if there aren’t funds on-hand to fill the tank. A driver only needs to send a signed bill of lading with the accompanying signed confirmation sheet and funds will be advanced to keep the tank filled. In the face of higher fuel prices, the trucking industry will be taking advantage of both programs.
Express Freight Finance offers the most comprehensive programs for fuel cards and fuel advances nationwide. Don’t get caught unprepared when the prices of diesel rise over the next year. Start saving today and keep your trucks rolling with Express Freight Finance.