Laramie, Wyo – Record prices for diesel fuel may cause smaller trucking companies to file for bankruptcy.
According to the Energy Information Administration, a gallon of diesel in the Rocky Mountain Region now averages 3 dollars and 70 cents. Nationwide, the price per gallon has hit records nearly every day in recent weeks.
Shelia Foertsch of the Wyoming Trucking Association says that's bad news for the industry.
"After huge increases in fuel prices, bankruptcy filings for carriers going out of business increases dramatically," she says. "The carriers just can't afford to pay those types of fuel charges."
Industry officials say many carriers have already cut costs as much as they can. Some companies have reduced their maximum driving speeds to 55 miles per hour.