We know the conversations surrounding diesel prices is non-stop but concerns that grocery shopping will become more expensive is an all time high. It’s not news to the trucking industry that gas prices are soaring, but now they are impacting multiple areas of people’s lives. Almost all American products, especially fresh produce supplied to grocery stores travel in diesel-powered trucks.
This increasing issue is leading experts to predict a recession and an increase in numbers of bankruptcies throughout the country. Considering the Russian invasion of Ukraine, many have been forced into survival mode when it comes to completing their hauls. It’s also important to note that there are international sanctions on a major oil and gas exporter, Russia. Some are spending close to $1,000 to fill up their 18-wheeler once. Los Angeles is one of the most impacted since the dispute between the two countries. Gas prices are currently reaching $5-$6 in California, with the national average gas price by the gallon standing at about $4.33, in comparison to the national average in February $3.49. Whether or not gas prices go down depends on national events like Russia and Ukraine. If disputes and sanctions continue, this could be a very long wait until we see the fall of gas prices again. It is safe to say that the entire global market supply is suffering right now. President Joe Biden has also made some efforts to release more oil barrels over six months, starting in March.
Unsure of when this will end, expect groceries and other places to be a more limited on products.