I saw what happened last time diesel prices got this high, I was just a kid back then but I’ve never forgotten. Price of diesel hit $5 a gallon and the U.S. economy buckled. Current fuel prices are shooting up so fast and the economy was already looking pretty fragile. I know rates have been at record highs but how long can these shippers keep it up?
I’m working solely off the load boards right now. Is that a bad idea? What can I do to change this?
If you failed or survived during the last recession, how did it happen?
What would you do differently today?
How are you going to survive?
Discussion in 'Ask An Owner Operator' started by Phantom307, Mar 3, 2022.
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Talk to shippers/receivers in your hometown or nearby.
Sometimes it pans out.
Hard to know where cheapest fuel will be now, where it was cheap, now is outrageous.Rideandrepair and Phantom307 Thank this. -
Meridian Mississippi was my go to stop for the longest time. Now I am scrambling. You think it’s time to get a reefer and get ready for groceries to keep the lights on? I’ve heard reefer is the best during hard times.
Rideandrepair and otismyman Thank this. -
Couldn’t help, never pulled a reefer.
I pull a hopper.
I still do ok, even though most loads don’t even have a FSCRideandrepair Thanks this. -
The problem isn't going to be the economy or the price of fuel.
The problem is going to be the idiots that are paying $5,000 or $6,000 or $7,000 a month for a truck and trailer because they thought they were going to get rich.
When the price of fuel keeps going up and the rates go down those idiots are going to be the ones that run for nothing and run the wheels off the trucks driving the rates down for everyone else.
I'm not exaggerating when I say fuel very well may hit 6 or $7 a gallon or maybe even 8+. There are pleces in Pennsylvania where it's close to $5 a gallon now. I just saw on the news that they said the price of fuel is changing day by day rapidly.
We can you do? Execute your well-thought-out plan with your paid off truck and trailer with your paid off home and your no credit card debt and your Frugal lifestyle and ride it out.
The rest are not going to do so well.RedForeman, pete781693, Oscar the KW and 17 others Thank this. -
I second Dino! I am so thankful I own my truck and have already rebuilt it. My wife works in birth work so there’s always that income, and I can confidently trade the stock market. I do well in an up market and a down market. I’d be terrified if I had payments on the truck.
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Who knows what the future holds. People like to spout off about being glad others are going under. If your business is ran so crappy that you depend on others going under, you are a very sad individual. Because when others go under, so does everyone. Know why? It's called the economy stupid. People aren't going to be shipping things that nobody is buying. You know who's gonna be in business? The megas. You know why......because they can afford lobbyists and they get bail out money. Because in the grand scheme of things, your little outfit don't account for #### all in this world. Welcome to the new economy.
Last edited: Mar 3, 2022
jcrack08, Czar_Zero, black_dog106 and 11 others Thank this. -
No payments … keep the old iron . And don’t be afraid to say no when rates are tanking.
Muddydog79, pete781693, bigguns and 12 others Thank this. -
I owe just over $30k on my truck and that’s my only debt to my name. I’ve got enough in savings to pay it off but I want to keep that money in case something happens. I call it my rainy day fund. As soon as I get to 50k I’m going to start putting all my money into the truck payment.
I don’t think I’d be able to truck for a mega, ID rather hang it up and use my GI bill to get a new profession if it came down to it.LoneRanger, Dino soar, bzinger and 6 others Thank this. -
Here's a kicker for potential fuel prices. Although nothing has been done yet, it is possible that the U.S. could add further sanctions and sanction Russian oil exports. If that happens, fuel prices WILL rise. By how much, who knows. But, I don't think it would be minor increases.
I just want to say, all those that support Ukraine (I'm amongst them!), if Russian oil sanctions do materialize and fuel prices increase as a result, please be gracious about the hardship and burden it'll create. Nobody will like it. But, may be a very important tool needed to humble Putin enough to stop his lunacy. Of all things the U.S. can do, short of head-on military confrontation with Russia, putting sanctions on their oil exports will hurt them the quickest and hardest by far. It is about the only thing they export, besides Vodka.
So, just a heads up. If we support Ukraine, be ready to sacrifice, of sorts, for that support.
Since I'm a company driver, it doesn't directly effect me, except for my on vehicle, which sits in a parking lot at a company terminal almost all the time.
But, those leasee folks and true Owner Operators, I feel for.Dadetrucking305, black_dog106, Dino soar and 5 others Thank this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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