Tom Kloza, chief oil analyst at the Oil Price Information Service, said consumers are paying about $1 billion more each day for gasoline than they did six years ago. “You really wonder how much the U.S. consumer can take.” And he added that the “more insidious increases are in the diesel segment.” He said diesel and heating-oil costs about $807 million per day currently vs. about $217 million six years ago.
Net result: “We are seeing numerous bankruptcies among small and mid-sized trucking firms with more to come,” Kloza forecast grimly.
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