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The State of Fuel: Summer 2022 Update

The State of Fuel: Summer 2022 Update

The truth is that here in the trucking and transportation industry, we rely immensely on fuel to get us where we need to go. This doesn’t just apply to us, but everyday motorists as well, as the state of fuel is something that affects virtually the entire country whether we like it or not. Here at Alexander, Winton & Associates, we pride ourselves on keeping those in the trucking industry accountable, informed, and updated. Indeed, few issues are as relevant to both truckers and the general public alike as the troubled state of fuel in 2022. In today’s blog, we’ll be giving you an update on fuel prices, including what the foreseeable future looks like – if that sounds interesting, keep reading below for more information!

How Did We Get Here?

The high price of fuel in 2022 was no overnight sensation – it occupies a long timeline and was brought about by a number of different variables and contributing factors. Arguably, the starting point for the fuel crisis was the COVID-19 pandemic, which created an economic ripple effect that ravaged a number of areas and industries – not just fuel.

This misfortune was continued by political events, namely the Russian-Ukrainian crisis, which, at its start, gave a sharp increase in gas prices.

Last Month

Throughout the year, the price of gas continued to steadily increase, causing a whirl of pain at the pump for drivers. It reached unprecedented heights in the month of June, when $5.02 was the average price of a gallon of fuel in America – an all-time high (CNET). It’s nearly hard to accept this statistic, but thankfully, it appears as if we are quickly leaving such price points behind us.

This Month

In what seems to be a promising improvement, on July 20th, the average price of a gallon of gas was $4.47 (CNET), a decent improvement from July. White House energy advisor Amos Hochstein stepped in to address this improvement, saying that this number is likely to decrease further, and Americans could see the price of a gallon inch towards $4 in the coming months (CNET). Of course, nobody knows exactly what the price of fuel will be in the foreseeable future, but for both truckers and general motorists, improvements are needed seemingly more than ever.

Choose AWA for Your Transportation Collection Needs!

AWA operates on a contingency fee basis, meaning, if we cannot collect, you owe us nothing. If you have unpaid freight invoices and are not sure what to do next, call 662-892-8591 to speak with one of AWA’s client specialists today or Place a Direct Claim TodayFor more information on our agency practices and methods, view our AWA Collection Process.

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