AAA Daily Fuel Gauge Report for Friday, 11/1/24

National Average Price for Regular Unleaded Current: $3.559; Month Ago: $3.657; Year Ago: $3.576. National Average Price for Diesel Current: $3.873; Month Ago: $4.008; Year Ago: $3.954.

The American Trucking Associations and the International Foodservice Distributors Association applauded the introduction of the DRIVE Safe Integrity Act, introduced by Representatives Rick Crawford (R-Arkansas) and Henry Cuellar (D-Texas), to help alleviate the truck driver workforce shortage. The bill builds upon strong, bipartisan support for the DRIVE Safe Act over the last few Congresses and the inclusion of the Safe Driver Apprenticeship Pilot Program in the bipartisan infrastructure law. “Building a 21st century supply chain requires a strong, vibrant and growing trucking workforce,” said ATA President and CEO Chris Spear. “The DRIVE Safe Integrity Act will bolster new career pathways into interstate trucking while promoting safety and training standards that far exceed the bar set by states today. This legislation offers a timely and essential trucking workforce and supply chain solution, built off years of broad bipartisan Congressional support.” “The last three years have proven just how important truck drivers are to the American economy and way of life, and how urgently we need to develop a pipeline of qualified, well-trained professional drivers to meet our nation’s growing freight needs,” said Mark S. Allen, President and CEO of IFDA.

FedEx will increase three peak surcharges on Express and Ground shipments beginning June 21, the carrier announced in an update Friday. Increased surcharges include Peak - Residential Delivery Charge for FedEx Express and FedEx Ground domestic; Peak Surcharges on U.S. Express Package Services, U.S. Ground Services and International Ground Services; and a Peak Surcharge on FedEx Ground Economy Package Service, all with effective dates of June 21, 2021, until further notice. Total Retail's Take: Shipping carriers continue to increase rates under the strain of large shipment volumes during the COVID-19 pandemic. The announcement from FedEx states that the impact of the virus continues to generate elevated volumes, high demand for capacity, and increased operating costs across its carrier network. The surcharge on residential shipping will have the biggest effect on e-commerce, which will see online retailers hit with a 100 percent increase from $0.30 to $0.60 per package. Trevor Outman, co-CEO at Shipware, noted that "this will have a direct impact on all direct-to-consumer e-commerce businesses; doubling their current residential surcharge costs."