Transportation companies are sounding alarms as diesel prices hit record highs around $6.31 per gallon, up over 70% from a year ago due to supply shocks from the U.S.-Iran conflict. Industry leaders warn of 5-10% earnings drops and potential price pressures on consumers, with California already seeing $8 per gallon diesel and Midwest states approaching $7.
J.B. Hunt's stock fell over 10% after the trucking company warned third-quarter earnings will drop 5–10% due to $25 million in increased recruitment and training costs, plus $10 million in fuel price headwinds. CFO Brad Delco described the pressures as temporary and said the company is preparing for growth while working to repair margins.