For Greg Dubuque, filling one tank of his vehicles now costs $1,000. This is a 66% jump from $600 just a couple of months ago, according to the LA Times. In early 2026, diesel prices surged by more than 40% nationally in under two months, Truckstop reports. California saw prices nearing $7.75 per gallon, a 50% rise in a month, while the national average peaked closer to $5.65.
Demand for goods requiring truck transport remains high. However, the economic viability of delivering those goods is rapidly diminishing due to fuel costs. This impacts US fuel costs and truck delivery prices.
Unless fuel prices stabilize or decrease significantly, the US economy will likely experience persistent inflationary pressures and potential supply chain disruptions. Trucking companies will struggle to maintain operations.
Who's Feeling the Squeeze from Rising Fuel Costs?
- One tank of gas for Greg Dubuque's vehicles cost $600 a couple of months ago, and today it costs $1,000, according to the LA Times.
- Yearly operations for a truck running 8 hours a day, 5 days a week, cost around $384,279 with fuel at $2.38 per liter, according to ASM Group Inc.
- This cost rises to $400,684 if fuel increases to $2.72 per liter, ASM Group Inc. states.
The dramatic increase in fuel expenses translates directly into tens of thousands of dollars in additional annual costs for each truck. Many operators cannot easily absorb this burden. Based on Greg Dubuque's experience of a 66% fuel cost jump and California's 50% rise in a month, the current diesel crisis actively culls small, independent trucking operations. This fundamentally restructures the logistics industry towards larger, more resilient players.
The Root Cause of the Surge
Crude oil accounts for roughly 50% of the retail price of diesel, according to Truckstop. The significant portion of crude oil in diesel's retail price means global oil market volatility directly dictates a large part of the trucking industry's operational expenses.
