9-26-08 by dugan
Here’s an alarming statistic that won’t show up in government economic reports for a few months: Diesel purchases at truck stops in August were down 7.8% from a year ago. Most of the stuff we eat, buy and wear is delivered by truck. That statistic, from the Oil Price Information Service (paid subscription barrier), means that up to one of every 12 trucks on the road last year is off the road this year, along with the goods they carried.
The drop in consumption tracks the price of diesel, which still averages $4.10 a gallon nationally, a dollar above last year. that price is factored into all the goods delivered by truck. Some of the drop may be due to companies and independent drivers getting more fuel-efficient on their routing and traveling only with full loads. Still, for both the drivers and the economy, it’s a dark harbinger.