AAA Daily Fuel Gauge Report for Friday, 6/10/22

National Average Price for Regular Unleaded Current: $3.129; Month Ago: $3.162; Year Ago: $3.527. National Average Price for Diesel Current: $3.604; Month Ago: $3.694; Year Ago: $4.058.

American Trucking Associations joined an event at the White House highlighting new public-private initiatives designed to grow the trucking industry’s workforce and bolster the U.S. supply chain. Nine professional truck drivers and nearly two dozen CEOs from ATA-member companies were in attendance. ATA President and CEO Chris Spear issued the following statement prior to the event: “Investing in our workforce never stops. It’s a constant. Our industry needs an additional 80,000 commercial truck drivers if we’re to meet consumer demand. We welcome the support of all elected officials as we recruit and train more talent into this critical industry. Recognizing our dedication to training and safety, the Departments of Labor and Transportation have worked quickly and efficiently in approving ATA as a registered apprenticeship sponsor. This long-sought designation provides our member companies valuable new tools and resources to help recruit and train the next generation of trucking talent."

First quarter results were negatively affected by a mix shift, which reduced demand for priority services, increased demand for deferred services, and constrained yield growth. In addition, higher operating expenses and one fewer operating day negatively affected the quarter’s results. A reduction of structural costs from the company’s DRIVE program initiatives partially offset these factors. “Despite a challenging quarter, we remain focused on transforming our network, improving our efficiency, lowering our cost-to-serve, and enhancing our ability to adapt with speed to evolving market dynamics,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “Overall, I remain confident in the value-creation opportunities ahead as we focus on reducing our structural cost, growing revenue profitably, and leveraging the insights from our vast collection of data as we continue to build the world’s most flexible, efficient and intelligent network.”