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 Supply Chain insight

Truck Shortages And Oil

Truck Shortages And Oil
Truck shortages are old and, unfortunately, recurring news.  To add insult to the incremental cost that shippers are paying to hire a truck on the spot market, gains in oil prices seem to be accelerating.  On Friday, as I write this, oil is over $66!  To put that in perspective, a year ago, a barrel cost $45… so we see a ~50% rise.  Worse, the upward pressure is being fanned by the declining value of the US dollar.  The dollar is down about 7% since June.  Summary:  expect to pay more for transportation and more in fuel surcharges!
 

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