India, Oct. 9 -- Record-high diesel prices are squeezing the US trucking industry, raising transportation costs and increasing the risk of higher consumer prices.
The surge comes as the sector continues recovering from a prolonged freight downturn marked by falling shipping rates, business failures and job losses.
JD & LA Trucking, a family-owned company operating 20 trucks between the ports of Los Angeles and Long Beach and regional warehouses, is among those facing mounting expenses.
Co-owner Angel Diaz said diesel prices had risen from just over $5 per gallon earlier this year to $8.38 at some Los Angeles-area stations. He warned that sustained increases could force more trucking companies to close or sell their vehicles.
The industr...