Rising Fuel Costs Leave Truckers Fuming
Survey says: Majority of truckers agree that fuel costs are a top concern but differ greatly on how to address the problem.
MAYFIELD VILLAGE, Ohio . — Fuel “drives” the trucking industry, and truckers are feeling the pinch at the pump now more than ever. In fact, diesel fuel costs have increased nearly 85 cents a gallon in the past year.
A recent survey by commercial auto insurer Progressive found that 69 percent of truckers say fuel costs are their most concerning business expense.
To offset these costs, truckers have tried:
* Downsizing staff (16 percent)
* Lengthening their workdays (12 percent)
* Taking fewer vacation days (8 percent)
But while many truckers are taking serious steps to offset costs, a surprising 41 percent say they’ve done nothing.
“When times are tough, simple things like keeping up with regular vehicle maintenance and shopping around for insurance can save truckers hundreds of dollars,” says Ken Bowman, with Progressive’s commercial lines group.
While insurance is also a concerning business expense, the survey found that truckers don’t shop around for better rates very often:
* Nearly half say they haven’t shopped for insurance in over a year; and,
* a quarter admit they haven’t shopped in more than three years, if ever.
Bottom line: Regardless of what kind and how many trucks you own or operate, regularly reviewing business expenses like insurance costs can save you money and keep your business moving forward.
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