This past week brought some great news for truck drivers. After a long period of 11 weeks of increasing prices, the U.S. average retail price of diesel decreased, dropping by .3 cent to $3.285, according to the U.S. Department of Energy’s Energy Information Administration report on June 4.
A rise in prices is the result of this blunt reality: there aren’t enough truck drivers delivering goods to stores. The shortage of truck drivers is not only raising freight costs, but retail costs as well. This is nothing new, as the driver shortage has been going on for years due to baby boomers retiring and very few millennial's wanting to be away from home weeks at a time on transport. To read more about the driver shortage and rising prices, click here.
E-commerce is constantly changing the way consumers communicate with businesses all over the world. 74% of shoppers said that they prefer free shipping over fast shipping. This statistic can help companies, especially small and mid-sized businesses, gain an understanding of what promotions or offers to run to keep customers satisfied with shipping options. 1.7 billion people said that they shopped online in 2017. With e-commerce becoming to prevalent in today’s society, this number is expected to rise in the coming months of 2018. To read more about e-commerce trends, click here.
Early January was the time for snow. The East Coast was hit hard at the start of the year with snow squalls reaching as far as northern Florida. Regions around Lake Erie saw heavy snow the first week of January, with record-breaking accumulation of over 133 inches. Major roadways were shut down causing large delays and disruptions to markets with restrictions to trucking. Not long after, the major storm Inga swept through the Northeast, Midwest, and South. Inga was one of the largest winter storms in recent history. Many states were unprepared and lack the means of snow and ice removal creating gridlocks. Airports where heavily disrupted, roadways were closed, and schools/ businesses shut down.
Still searching online last-minute holiday gifts? Well, you are one of the millions this holiday season to use an e-commerce site to do their shopping. Whether you ordered something for your home, business, or a loved one, expect to see some delays in delivery.
Earlier last month, President Trump announced that he was going to unveil his long-awaited infrastructure plan for the nation sometime this January. The proposal is a 70-page memo, that is on track to be submitted to Congress next month, will be the stepping stone for the creation of the legislation. During his 2016 election campaign, Trump vowed to invest $1 trillion to rebuild America’s crumbling infrastructure. This could mean major changes within the expanding transportation industry.