Diesel Fuel Prices & Trucking Industry

The recent surge in the cost of heating petroleum, diesel fuel, and gasoline in the United States has had significant impact on many sectors of the U.S. economy, but most importantly it has had quite a devastating affect on the trucking industry. This is important collectable to the fact that nearly 70% of U.S. communities rely solely on trucking for their supplies (ATA 23). If the government continues its trend of non-intervention and refuses to place pressure on OPEC, the prices will continue to soar well over the two-dollar mark, and intellect the trucking industry as a whole to take out down bringing the U.S. economy to a grinding halt. What is the close that gasoline and fuel prices are so high? most people believe it is be intellect of OPEC raising the price of oil. This answer is and partially true. In fact, there are several former(a)s factors that moldiness also be taken into account when determining the make out of high fuel prices in the United States and in other separate of the world. The main reason for the price increase is that OPEC (Organization of rock oil Exporting Countries) has decided to cut back on its oil business. What is the reason for this?

Simply stated, OPEC knows that they have the United States under their work in terms of what price they want to sell crude oil to us at, and how a lot they want to ship. With the present frugal prosperity in the U.S., it didnt take long for OPEC to seize the fortune to make more money by cutting production of crude oil, and thus forcing consumers to pay more for fuel. Just how much higher are prices you ask? Crude-oil prices in early sue hit $34 a barrel, while a category earlier it was selling for $12 a barrel, which is nearly a 75% price increase since last year. This equates to an additional 48 cents a gallon (Logistics Management 15). Another key cause to the price inflation issue is the extended period of bitterly cold weather that loomed in the northern and midwestern parts of the U.S. throughout the... If you want to get a full essay, enjoin it on our website: Orderessay

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