AMERICAN TRUCKING ASSOCIATIONS

The financial markets were shaken to their core this week as some investment banks failed, some merged, and a huge insurance company was saved by a federal bailout. As a result, the equities markets were on a seesaw ride. One thing’s for sure, these events are considered economic shocks and are nearly impossible to account for in an economic forecast. A Federal government (including the Federal Reserve and the Department of Treasury) response to shore up the financial system was necessary to avoid a complete collapse. Even with that response, however, there are many clouds on the economic horizon making it more difficult to forecast.

Go to Weekly Economic Recap...

According to today's price report from the Energy Information Administration, the national average price of retail on-highway diesel stands at $3.959 per gallon, up one-tenth of a penny from last week. The national average, which increased for the first time in 11 weeks, is 29.9 percent higher than during the corresponding week in 2007. Of the five main regions, the East Coast experienced the highest average this week at $4.020 per gallon,while the Gulf Coast reported the lowest average, $3.929 per gallon.

The long-haul, heavy-duty truck transportation industry in the United States is experiencing a national shortage of 20,000 truck drivers, according to the American Trucking Associations report, U.S. Truck Driver Shortage Analysis and Forecasts. The Forecast, a report on the present and future of the long-haul truck driver pool, predicts the shortage of long-haul truck drivers will increase to 111,000 by 2014 if current demographic trends stay their course and if the overall labor force continues to grow at a slower pace.

Click here to download the full report.

The American Trucking Associations is deeply concerned about the impact of diesel price increases on the motor carrier industry and on our national economy. In the face of continued high fuel prices, ATA is working to find solutions to this national problem by ensuring that trucking -- the backbone of the American economy -- does not break.

Click here for the Fuel Price Update.