MASURY, Ohio (WKBN) – The cost of diesel fuel has been rising for a while and it’s getting worse.
Joe Kerola of PI&I Motor Freight in Masury said his 400 rigs go through about 5 million gallons of fuel each year, which has jumped in price by about 25% just in the last week
“We are over $5 a gallon, $5.25 I think right now,” he said. “We’re eating it this week. It went up some and then by next week, we’ll be recouping it, unfortunately, with customers who will then pass it on.”
Kerola says the ripple effect impacts just about every sector of the economy since so many depend on shipping and fuel to get from one spot to another. He says the company had been assessing a monthly service fee to cover fuel costs but now, that’s happening every week.
The company’s cost for diesel is tripled in just over two to three months, even before Russia invaded Ukraine.
“We would buy fuel in a tanker, and it would cost $12,000 or $13,000. The last bill in paid was $29,000 for a tanker,’ Kerola said.
While costs keep rising, Kerola says there’s only so much he and his staff can do to save.
“Five to six miles a gallon. I mean, what are we going to do? You’re over $1 a mile every mile you run just for fuel right now,” he said.
But with prices fluctuating so quickly, Kerola says he can’t predict how much higher they could go or how long this will last.