March 26, 2007
Reported by Jordan Sandler
You know the feeling. You squeeze that handle, those numbers keep on running, and your wallet feels the pinch.
But gas price increases aren't just affecting what you're paying for your daily commute. It's also affecting the trucking industry.
President of Hay Brothers trucking Pat Hay runs a 13-vehicle fleet out of Lake Charles.
But when gas prices increase, filling up those 18-wheelers can get pretty pricy for Pat.
"It makes our costs go up for our customers which in turn makes theirs go up," says Hay. "They have to charge more because we charge more."
The increase in gas prices is affecting Pat's business in many ways. It's not just affecting the price of gas that leaves the exhaust pipe. It also affects the cost of things at the bottom of the vehicle like tires, which require petroleum to manufacture.
Since the price of petroleum has gone up in the last couple years, Pat has had to pay 20 percent extra for tires. And that means with thirteen 18-wheelers, that's a price increase of $2,400 per year, just to put wheels on these bad boys.
And Pat's concerned about what these re-occuring price increases in fuel could mean for the future of his company.
"It might come to a point in time where you charge more for fuel surcharges than you actually charge for our services."