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Good morning!

Your latest edition of The Highway Hustle is pulling out the parking lot, revving up, with a heap of industry insights hot off the press.

Here’s what we’ve got for you today:

1. Wallet-friendly fuel updates ⛽️

2. Big rig rumblings shaking the foundations of freight 💸 

3. The most significant topics on truckers & execs’ minds, ranked 🧠

So, gear up for a ride through the highs and lows of the road—we're keepin' it real and rolling with the punches.

⛽ Blake’s Fuel Corner

1. Avg. Gas Price: $3.345 (down $0.024 from last week!)

2. Avg. Deisel Price: $4.348 (down $0.052 from last week!) 

3. Priciest Gas State: California ($5.049)

4. Cheapest Gas State: Mississippi ($2.834)

The national average for gas is down to $3.40 a gallon - that's 4 cents less than last week and a whole 40 cents cheaper than this time last year. Oil prices are also taking a dive, now chillin' in the mid-$70s per barrel. Cheaper oil usually means cheaper gas, so we might see even more drops at the pump.

AAA's Andrew Gross says we should keep an eye on global events since they can shake up oil markets. But for now, we're seeing the usual seasonal dip in gas prices. Since September 19, prices have been falling or staying put.

A stronger dollar and fewer worries about Middle East tensions are helping to keep them low. Keep your fingers crossed, but it looks like we're in for some more savings at the pump.

Trucking Talk: We Read the ATRI Survey Report So You Don’t Have To

Let’s rev up and dive into the latest scoop that's been shifting gears in the trucking landscape, according to the big brains at the American Transportation Research Institute (ATRI). 

Over 4,000 trucking industry stakeholders participated in the ATRI survey; 48% were big whigs like carrier executives, 29% were drivers, and the remaining 1/4th were a mixed bag of suppliers, driver trainers, and law enforcement.

📉 Economic Pressure Takes the Lead as Truckers’ Worry: The slow chug of the U.S. economy has snatched the top spot on truckers' worry list. With an uptick in inflation and interest rates, the road's getting a bit rough. “The Economy” was ranked 5th last year, number 1 this year. 

⛽ Fuel Fiasco Still on the Radar: Diesel costs are still cranking up the pressure on per-mile costs and thinning out wallets along the highways. The Fuel prices concern dropped from 1 to 3, but is still top-of-mind for every driver. 

💰 Paycheck Pitstops: Drivers are honking louder for better compensation, placing it high on their priority list.

🧐 Strategic Shifts:

• Regulation Rethink: There's a strong call for tossing out the red tape that's weighing down on profits. To list a few, Hours of Service (HOS) restrictions 

• Cost Conundrum: It's crucial to spotlight how rising trucking expenses drive the cost of living.

• Manufacturing Moves: A big push for localizing manufacturing could unclog some supply chain snarls.

👔 Diverging Priorities:

• From the Office: Carriers are crunching numbers, tackling the economic puzzle, and fighting legal battles.

• Behind the Wheel: Drivers are dialed into immediate needs: higher pay, finding a spot to hitch for the night, and battling the ever-rising fuel prices.

💻 Tech on the Horizon:

• Electric Avenue: Zero-emission vehicles are the new kids on the block– entering the list of concerns for the first time. 

• Autonomous Anxiety: Driverless trucks are stirring up more than dust, with many seeing them as rivals for the road. Recently, the International Brotherhood of Teamsters union advocated for the banning of driverless trucks in California.

Why This Matters to You:

It's not just about turning the key and hitting the pavement anymore. Trucking's terrain is changing under the tires, and staying ahead means being plugged into these shifts.

We've got our eyes on the gauges and hands on the wheel, making sure "The Highway Hustle" is your go-to for the latest industry intel.

Stay tuned, and keep those wheels turning! Keep on trucking, and remember, we’re all in this haul together.

Let us know what's fueling your thoughts on the road.

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Great Trucking Recession: Road Realities or Just Revved-Up Rhetoric? 🚛📉

Is the "Great Trucking Recession" more than just chatter?

Signs point to a tough road ahead, especially with the holidays around the bend. But what's your take–are you feeling a crunch?

Post-pandemic, there's a glut of trucks and not enough freight. Mike Kucharski from JKC Trucking calls it a full-blown "dogfight,” and even the big dogs are struggling.

It's like a heavyweight title fight for every load. Big names, young and old, are hitting the canvas.

Yellow Corporation, one of the country’s oldest and largest trucking companies, filed for Chapter 11 bankruptcy in August, laying off over 30,000 employees.

Even the scrappy Convoy Inc., the Seattle-based startup once valued at $3.8 billion last year, shut down in October, citing a “massive freight recession.” 

Freight is often considered a proxy for America’s economic health, and it's a critical time for an industry that's the heartbeat of America's economy. 

🌤️ But, as with all things in life, there’s a silver lining.

🚛 Surplus Dilemma: Too many trucks, not enough cargo. This could mean a shake-up in the industry. Could this be a chance for smaller, agile companies to find their niche?

While the surplus of trucks has led to a drop in the price of used trucks, this is a double-edged sword. According to Express Freight Finance, fleets are holding onto vehicles longer due to decreased value, leading to higher maintenance costs.

However, the trucking industry has grown, and most carriers are small companies, which might open opportunities for niche markets or local operations.

⛽️ Fuel is Cheaper: At least margins aren’t being squeezed as tightly by diesel prices. Still, a dollar saved is a dollar earned! Explore more fuel-efficient routes and refill stations, and maintain vehicle health. These small changes can lead to significant savings in your operations.

🦃 Holiday Headache: According to ATS INC, the holiday season, particularly Thanksgiving, can impact freight shipping due to fewer trucks available and retailers being too busy to receive shipments. Planning shipments for the week before Thanksgiving or the following week can help navigate this seasonal challenge. 

The holiday season requires smart scheduling. Anticipating busy periods and planning loads around them can ensure continuous operations without overburdening your resources.

For trucking companies facing economic downturns, here are a few strategies to consider: 

• Explore smart expansion or services in less-impacted regions.

• Strengthen relationships with staff, clients, and partners.

• Make the company lean by dropping unproductive capital. Reduce debt and consider updating equipment.

• Outsource non-strategic activities to focus on core business. 

😂 Trucking Memes for the Soul

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