Escalating diesel prices and fuel demand concerns truckers about the possibility of a diesel shortage

Published: May. 27, 2022 at 10:35 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

CLEVELAND, Ohio (WOIO) - Diesel prices have jumped 75% from a year ago according to AAA, fueling concerns that we’re on the verge of a diesel shortage that in the end could have us all paying the price. That’s because costs could be passed on to consumers at the grocery store and when they purchase clothing or other supplies.

Diesel fuel is in short supply according to fuel experts, as prices reached a record high of $5.62 a gallon at the pump nationwide last week. Semi-truck drivers, in particular, owners/operators are already feeling the squeeze on their wallets.

Truck driver Jay Fortner says, “A regular fill-up would have been about $700 six months ago, now it’s about $1,000.”

Now there’s a concern there’s the real possibility of a diesel fuel shortage on the East Coast that could leave the economy running on fumes, and possibly crippling an already struggling supply chain.

Carl Anderson says in his 73 years, he’s never seen anything like this, “Truck drivers are going to have to park their rigs.”

Pamela Gregg who was passing through Northeast Ohio on her way to a funeral tells me these are scary times, “My biggest concern is when the trucks can’t get diesel, we can’t get stuff to the stores, we can’t get stuff to nursing homes, we can’t get fuel, we can’t get anything. Because the trucks won’t be able to roll because they can’t afford to put the money into their tanks.”

The Biden Administration is now considering tapping the diesel reserve, because diesel literally fuels the U.S. Economy and if it’s tapped out, the demand will drive up costs of nearly everything the average consumer needs, Gregg says, “You know I mean you go to the grocery store now and what you used to pay for milk about $2.50, now costs you $5.00.”

An emergency declaration would be needed for President Biden to release fuel from a stockpile. The only time that has happened was in 2012 after Super Storm Sandy hit.

Copyright 2022 WOIO. All rights reserved.