NEW YORK (AP) The price of a rental car jumped to an all-time high on Wednesday after new regulations hit trucking operators and trucking drivers alike.
The national average was up 8 cents per mile for a Honda CRV or a Toyota Camry.
The average hourly wage for truckers was $11.76.
On Wednesday, truckers paid an average of $8.71.
The trucking industry, which employs more than 4 million people, said the higher fuel prices could result in less hiring.
The cost of living in New York City and the Northeast is already among the highest in the country.
That could be exacerbated by a new federal mandate for gas stations to sell 24-hour refills for the first time in the region.
In Pennsylvania, which was the first state to pass such a requirement, trucking companies will have to purchase and deliver fuel to stations.
Trucking is a key industry for the state, which is home to some of the country’s largest and most powerful trucking firms.
The New York-based trucking company, Cummins, said in a statement that the increase in prices “is not good news for the trucking sector or the drivers who drive them.”
The price increase came as the U.S. government’s latest forecast for trucking demand in 2018 was down.
The agency said that a combination of factors could lead to a slight increase in truckers’ work force.
The report came as a Reuters/Ipsos poll showed trucking employers were the biggest employers in the U!
T industry, up 7 percent from a year earlier.
The company said the increased cost of fuel would make it harder for truck drivers to earn a living, and added that the cost of labor for truck jobs would increase, as would the price of insurance.
The new rule will take effect on April 1. Reuters