As September ends and we get ready for fall to ramp up, we look forward to the busy transportation season that comes with it—let’s recap on the previous month! Shrinking US storage in Oklahoma impacts global oil markets, raising premiums for US crude in Asia and Brent-Middle East oil spreads despite. In Iowa, Governor Reynolds approved a 30-day grain harvest proclamation, allowing overweight loads for agriculture products until October 11. In addition to overall industry advancements, the Biden administration allocates $1.4 billion for railway safety and capacity projects across 35 states.

Still combating pandemic-related production issues, Trailer manufacturers explore automation, and prepare for electric trucks and more autonomous vehicles. Additionally, federal trucking regulators plan a study to investigate the impact of driver detention time on safety and operations. The 35th Annual National Truck Driver Appreciation Week took place the week of September 10–16, celebrating 3.5 million truck drivers through various events emphasizing the importance of recognizing truck drivers.

As August ends, we say goodbye to the summer weather and prepare for the arrival of fall, along with the bustling transportation season it brings. To end the summer, Taylor Swift’s Eras tour reportedly gifted $100,000 bonuses to approximately 50 truck drivers, totaling an impressive $5 million. In stark contrast, Hurricane Idalia, a Category 3 storm, struck Florida on August 30, causing widespread destruction along the Gulf Coast.

Experts and industry stakeholders are exploring alternatives to federal regulations favoring battery-electric trucks, with Senator Pete Ricketts supporting the Flex Fuel Fairness Act, which encourages flex fuel vehicle production alongside battery EVs. Pennsylvania is simplifying the CDL skills test, effective August 28, to enhance accessibility. Meanwhile, U.S. Transportation Secretary Pete Buttigieg expands two marine highway systems, adding 250 miles to the Ohio River system and 6,500 miles of Alaskan waterways to enhance freight shipments and supply chains.

As we look back at July, we embrace the summer weather and the busy transportation season that comes with it. In a notable development, the benchmark diesel price reported by the Department of Energy’s/Energy Information Administration experienced a substantial one-week surge of 22.2 cents per gallon, marking as one of the largest. On another front, senators introduced a truck safety bill aiming to enhance truck safety standards and improve highway safety. Additionally, experts believe the combustion engine will continue to play a role as well as addressing fuel-related issues is crucial for sustainability.

There is growing demand to bring veterans into the trucking industry as technicians due to their valuable skills and work ethic gained from the military. IKEA is also set to squire Made4Net, a US based supply chain software and services platform that will enhance logistics operations. Finally, a group of investors plans to address the truck parking issue by converting closed drive-in theaters to provide over 40,000 large parking spots.

As we reflect on the month of June, we can embrace the arrival of warm weather and the summer season. Logistics costs in the United States witnessed a significant increase in 2022 due to higher transportation expenses. This surge in costs presents challenges for businesses and reflects the impact of supply chain disruptions and inflationary pressures. After a major structural issue caused by a tanker crash and explosion, I-95 in Philadelphia has reopened, providing relief to commuters, and restoring a crucial transportation route. President Biden’s infrastructure plan seeks to invest funding to modernize infrastructure, create jobs, and promote sustainable development, although it faces obstacles in gaining support and securement.

Additionally Continental Tires tests and develops technologies to enhance safety and efficiency. The freight industry sees three emerging trends: AI, paperless trade, and supply chain finance. Used Class 8 truck sales declined in May due to factors like chip shortages and supply chain disruptions, while recovery is anticipated. As June draws to an end, this ever-evolving industry keeps moving forward with daily developments and continuous advancements, overcoming challenges every day.

Warm weather and summer are finally here, as we look back at the month of May. The US natural gas sector is removing rigs due to oversupply and falling prices, leading to reduced production and drilling, while the Alligator River Bridge in North Carolina is being converted to a fixed span, saving truckers costs and eliminating long detour. Truckers also plan to boycott freight transportation to Florida, opposing the state’s law on migrants that invalidates out-of-state driver’s licenses and mandates work authorization verifications.

Additionally, truck drivers in PA face a severe shortage of safe parking spaces, making it one of the most challenging states for finding reliable parking. A new battery swapping company has quietly deployed quick charging swap stations in the Bay Area, offering an effective alternative for ride sharing and delivery fleets without home charging capabilities. As May comes to a close, this dynamic industry continues to experience daily progress and ongoing advancements. 

April saw many events take place to prepare the industry for success as warmer weather and summer approaches. From changes in truck driving recruitment to energy storage on wheels, explore the latest in April’s market report.

In preparation for warmer weather and an April full of moving freight; many events took place in March to set the industry up for long-term success. Explore the March market update in the latest Back it Up.