Trucking industry will spend record amount on diesel in 08: ATA

The trucking industry will pay a record amount for fuel in 2008, according to projections from the American Trucking Associations.

The US-based trucking industry lobby group projected the industry will shell out US$135 billion for fuel this year, up US$22 billion compared to 2007.

The association's president and CEO said the industry is experiencing the highest prolonged fuel prices in history. Fuel is beginning to surpass labour as a fleet's largest operating expense, he pointed out.

"The trucking industry is making great strides in its efforts to reduce overall fuel consumption. But an affordable supply of diesel fuel is imperative to keep our trucks moving," said ATA president and CEO Bill Graves. "There is little to suggest that fuel prices will decline any time soon. Yet every day, ATA hears new stories from its members about how escalating fuel prices are hurting their businesses and affecting their livelihood."

Over the past five years, the cost of filling up a tractor-trailer has surged 116%, the ATA reports. The association is calling on US Congress and President George W. Bush to increase diesel supplies to counter further price spikes.

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