As gas prices continue to skyrocket to record heights, one industry has already felt the impact.
Trucking companies are fast taking a hard hit, and some are assuming the worst.
“We will see a lot of companies go out of business behind higher fuel prices and low rates,” said Creighton Guillory.
Guillory is the CEO of All-Transport, LLC, and services states all across the south.
He recalls back in 2008 when gas prices hovered around the same amount and forced a lot of people out of business.
“You have to factor in high insurance prices to date, you have to factor in paying drivers, maintenance, and then on top of that, fuel. When your fuel costs double then at that point you might start thinking about trying to find something else to do for a living,” said Guillory.
Guillory said he’s paying nearly double what he did six months ago just to fill up one truck. Depending on the model, it can cost up to $800.
If this continues, he said this will force a lot of companies to cut costs to stay afloat.
“Once things start getting tight you have to look where you can trim fat,” said Guillory.
This could include changing routes, cutting services, or limiting supplies.
Guillory is hopeful that a lot of businesses will make it out fine, but if nothing changes he believes this will impact more than just his line of work.
“Between grocery stores and even lumber companies, everyone will feel the impacts of these high fuel costs,” said Guillory. “All this stuff starts trickling down and before long, everybody’s going to feel the pinch.”
Written By: Perry Robinson for WAFB Baton Rouge, Louisiana Photo: Freestock