New legislation and fuel prices have hurt many trucking companies

New regulations have hit the freight carrier industry in an effort to improve trucking safety and transparency. The new proposed legislation coupled with the new high fuel costs have driven companies into uncharted territory with regards to employment.

For instance, a recent change in federal law bans trucks that weigh 100,000 pounds from using Maine's federal interstates, which has forced many drivers to traverse major cities to deliver their freight, The Bangor Daily News reports. This may pose a problem to public and truck driver safety.

Diesel fuel costs have risen throughout the U.S. However, in many parts of Maine, truckers are now paying more than $4 per gallon. Fully loaded trucks can weigh 100,000 pounds and only average five miles per gallon. A round trip of about 100 miles nets drivers nearly $250. However, approximately $100 is paid toward gas, while up to $50 is used for insurance.

"A lot of manufacturers have cut back to nothing or they basically are treading water," Jeff Castonguay, general manager for Hartt Transportation, told the news source. "We feel that some of them are walking a fine line right now in terms of their survival."

According to the U.S. Department of Energy, the average cost of diesel fuel is $3.871, which is almost a full dollar more than it was last year at this time.

By Anna Byrne

New legislation and fuel prices have hurt many trucking companies

Monday, March 14th, 2011