There’s no question that the current state of affairs has caused much uncertainty for many industries. As the world continues to grapple with the reverberations and economic consequences of the COVID-19 pandemic, the state of our world from an economic standpoint does not look entirely promising. Particularly here in the trucking industry, it’s clear that our field has gone through much turbulence recently, leaving many to speculate, worry, or worse yet, fear for the future. While nothing is guaranteed as to what lies ahead for the trucking industry, in today’s blog, we’ll be discussing the most outstanding questions and concerns in our industry’s future. If that sounds interesting, keep reading below for more information!
Recovery from the COVID-19 Pandemic
When COVID-19 sharply rose into a global pandemic, it sent the entire world into a state of shock and uncertainty. Roughly two years on since its inception here in America, the effects of COVID continue to linger, and have proved to be challenging for individual people, businesses, and the economy as a whole.
Despite the continued display of integrity and resilience from truckers, the reverberations of the pandemic have caused much turbulence for our industry. Supply chain shortages, for one, have led to soaring costs for products and materials, prompting many companies to readjust their budgets just to keep up. As the industry continues to grapple with a post-COVID economy, many wonder how trucking and transportation will recover from the circumstances – let alone the global economy.
Fuel Prices and the State of Affairs
Perhaps the most grueling challenge for the trucking industry, high fuel prices have continued to trouble truckers and casual drivers alike. This, in addition to supply chain issues and workforce shortages, has made the early 2020s challenging for the industry, to say the least, especially for smaller companies. With fuel prices at an all-time high, the future looks gloomy for those looking to get the most mileage for their dollar – recent economic sanctions from the Russian-Ukraine crisis have also worsened the situation.
Truckers have had to cut corners and readjust their budgets to keep up with the state of fuel prices, and there seems to be little sign of relief in the near future. This remains to be one of the biggest struggles that the industry faces at present.
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