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diesel prices reached a record high of $6.51 a gallon on Sunday, according to AAA, triggering a sharp decline in transport stocks and raising concerns about broader inflationary pressure.
The national average has increased by more than 40 cents over the past week, a surge that market participants are linking directly to rising costs across freight, food, and consumer goods sectors.
Hunt Transport Services shares fell more than 13% last Wednesday following a warning from finance chief Brad Delco at a Morgan Stanley industry conference.
Delco stated that the company's earnings would decrease between 5% and 10% from the second to the third quarter due to elevated fuel costs.
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