Washington diesel prices hit record high twice in a week
KOMO • • business
Key Points:
- Diesel prices in Washington state reached a record high twice in one week, peaking at $6.55 per gallon statewide and $6.69 in Seattle, with some stations charging over $7 per gallon.
- Trucking companies like United Motor Freight are managing the increased fuel costs by passing surcharges to customers, with fuel surcharges more than doubling from 45 cents to $1.06 per mile compared to last year.
- Smaller trucking operators are struggling with the high fuel prices, leading to many trucks being sidelined due to cost pressures.
- The surge in diesel prices is attributed to geopolitical tensions in Iran affecting supply chains, particularly concerns around the Strait of Hormuz, as well as state-level climate policies like Washington’s Climate Commitment Act that raise fuel costs through emissions allowances.
- Experts predict that diesel prices may continue to rise if supply disruptions persist, adding further challenges to the trucking industry and businesses reliant on freight transport.
