JLT Trucking Loses $100,000 a Month as Diesel Nears Record $6.49 a Gallon

1 articles · Updated · abcnews.com · Sep 21

JLT Trucking says fixed customer contracts are forcing it to absorb about $100,000 in extra diesel costs each month, adding roughly $1.2 million a year to expenses.
Diesel has climbed nearly 60% since the war with Iran began almost seven months ago, with the national average hitting a record around $6.49 a gallon on Monday after a 30.7-cent weekly jump.
Marc Shaener said the company’s more than 100 trucks burn about 2,000 gallons a day, but contracts that reset only annually or every five years keep JLT from raising rates fast enough.
Shaener warned the squeeze will cut investment, hurt employees and shrink business, adding that waste hauling is already feeling customer budget pressure in the Washington and Baltimore region.
U.S. officials tied elevated energy prices to threats to international shipping from Iran and the Houthis, while Trump also blamed damage to Russia’s diesel refining system from the Ukraine war.