How we act now dictates how the next cycle impacts us.
That is a fact and the lesson for today.
Are you taking the purple pill or the green pill?
Neither will do you any good without customers giving you loads at a fair price. However, at least if you have a fuel surcharge table you can manage some of the negative impacts of fuel costs.
The ups and downs of wholesale prices make even that a difficult task.
The SONAR chart shows how spot rates compare to retail diesel prices on the left and contract rates compared to wholesale prices on the right side.
Volatility kills all who are not prepared.
So, what can you do about it?
Hopefully, back when things were awesome in the market (remember last year praying for COVID to be over), you stashed some cash and established some solid relationships. At least enough to get you through this difficult summer.
If you’re one of the many who jumped the corporate ship and headed for the golden freedom of the owner-operator life, you brought some knowledge with you.
Peace and love