Preparing for the Looming Diesel Shortage: IMO 2020
U.S. trucking companies continue to ride the rising tides of an expanding economy and surging freight demand. Carriers have control of the market, setting rate levels and choosing the most profitable lanes, resulting in higher revenues. While the good times for carriers continue to roll on, driver compensation and higher fuel prices are starting to squeeze their profit margins. Currently, driver compensation accounts for the greatest cost, as carriers continue to compete for drivers in a tight market. But on the horizon, the industry faces a potential diesel shortage that could send fuel prices soaring.