Wall Street Journal reported in its March 11 edition about the
effect high fuel prices are having on small business truckers.
truckers never fully recovered from the hit they took in 2000, and
now they are being hit again even harder," Todd Spencer, executive
vice president of the Owner-Operator Independent Drivers Association,
told The Journal.
story noted that after recent increases, leaving the average nationwide
diesel price above $1.70, a number of small trucking operations
and owner-operators are unable to make a profit and have parked
their trucks. Others, the newspaper said, have been forced to take
jobs as company truckers.
latest woes for truckers come shortly after the industry was left
reeling in 2000 and 2001 from what some executives called a ‘perfect
storm,’” the newspaper reported, “a combination of rising fuel prices,
a slowing economy, rising insurance premiums and dropping values
of used trucks.”