Sixteen US Trucking Firms File for Bankruptcy as Diesel Prices Hit Record Highs

Key Facts

1Sixteen U.S. trucking companies filed for bankruptcy in less than a month following a sharp rise in diesel prices.

2The U.S. national average diesel price surged 17% to a record $6.53 per gallon in late September.

Sixteen U.S. trucking companies filed for bankruptcy in less than a month following a sharp rise in diesel prices. Reuters reported that the U.S. national average diesel price surged 17% to a record $6.53 per gallon in late September 2026. The wave of filings included major carriers such as Xoco Transport and Globemaster, with some firms entering liquidation while others seek debt restructuring.

The record price spike is linked to geopolitical tensions with Iran, which disrupted global energy supplies and damaged refining infrastructure in the Middle East. Trucking firms are grappling with these costs alongside rising labor, insurance, and maintenance expenses in a low-margin environment. With diesel prices remaining near historic highs, the financial strain has already resulted in the loss of more than 250 jobs across the sector.