President Trump’s threat of an export ban on diesel faded after G-7 countries agreed to release 100 million barrels of fuel and crude from emergency stocks. The WSJ’s Rachel Wolfe notes the move acknowledged soaring diesel prices as a sign of inflationary pressures from the U.S. conflict with Iran. At truck stops like the Flying J in Orange, Texas, diesel hovered around $6.26 a gallon.
Independent truckers cut costs by cooking in cabs, skipping parking fees, and delaying rig washes. Some parked trucks altogether. More than a dozen small operators filed for bankruptcy in the past month.
Meanwhile, small businesses face longer waits for tariff refunds than large importers like Walmart and Apple, which received $2.9 billion and $2.2 billion respectively. FedEx, DHL, and UPS have processed refunds, with DHL returning about 92% of eligible claims. Total loads on the DAT One spot truckload market rose 9% week-over-week as quarter-end shipping boosted freight activity.
Mark R. Long is editor of the WSJ Logistics Report.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing