News Summary

• According to multiple sources, the rising cost of diesel fuel was the straw the broke the camel’s back for 16 freight operators that filed for either Chapter 7 or Chapter 11 bankruptcy protection in late August and early September.
• Four of those operators were based in Texas, where Governor Abbott just proclaimed a statewide disaster in order to ease restrictions on the use of untaxed diesel fuel on public highways.
• The issue is much bigger than just agricultural trucking.
• High fuel prices are contributing to inflation in other sectors too.