DENVER — Skyrocketing diesel prices have put the squeeze on the long-haul trucking industry and threaten to drive up food costs in Colorado.
The price hikes are a direct result of the conflict in Iran, according to Dr. Jack Buffington, director of supply chain at the University of Denver.
“Most of the oil and gasoline that we have right now in our cars was what was on the water already once the war started,” Buffington said. “Now, we’re getting into a situation where the oil is now a part of what’s happening in the war.”
Long-haul truckers are already feeling the impact at the pump. Archie Lofton, a trucker bound for Texas, said his fuel costs have nearly doubled.
“Usually it takes maybe $565 or $570 to fill up,” Lofton said. “Now, it’s 900 some dollars… I’m just taking it day by day, man.”
Roger Gast, who has been trucking since 1978, was also on his way to Texas when Denver7 caught up with him. He had to make an unexpected stop in Colorado to buy two new tires for over $600.
“I’ve seen prices for diesel in states go from $3.49, $3,69… and [now] they’re up close to $5,” Gast said.
Buffington warned that if prices do not go down, smaller trucking companies and truck owner-operators could go out of business. He also noted that while Colorado gets oil from within the state and from Wyoming, it imports nearly everything else, which will impact consumers at the grocery store.
“That will definitely translate into higher food prices, because the only thing that was holding inflation down, to some extent in the United States, were energy costs. Now, this happened,” Buffington said.
Even if the conflict in Iran ends, Buffington said prices may not return to what they once were. Gast is also pessimistic about the future, blaming the president for the economic strain.
“He’s got three years left,” Gast said. “This is going to go on as long as he’s in office. Until somebody gets in and actually looks at the big pictures and sees how it’s affecting the economy and 370 million instead of himself.”
Despite the financial challenges and a struggling trucking industry, Gast still loves his job.
“It’s fun to see the country and get paid to do that,” Gast said. “You get to eat in different places. You get to see different cultures. The mountains in Colorado are really beautiful.”
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