'Science fiction': Transport companies — the backbone of economy — are sounding alarm on fuel prices

A person walks in front of a semi-truck parked at a cargo shipping container on a rail yard in Commerce, California on Aug. 26, 2026. Patrick T. Fallon | AFP | Getty ImagesTransportation companies, the lifeblood of the U.S. economy, are flashing warning signs as diesel costs hit records.Prices for diesel, the fuel type used to power trucks and trains, came in at an all-time high of around $6.31 per gallon on Wednesday, according to AAA. Diesel prices have surged more than 70% from a year ago, which analysts attribute to the supply shock from the U.S. war with Iran."We have seen some of the most radical and abnormal swings in fuel prices that I think we've ever seen," said Brad Delco, finance chief at trucking company J.B. Hunt, at an industry conference hosted by Morgan Stanley. Delco said to expect a drop in earnings between 5% and 10% from the second to third quarter as a result of higher costs. Shares of J.B. Hunt dropped more than 13% in Wednesday's session, putting the stock on track for one of its worst days since going public in 1983.Stock Chart IconStock chart iconJ.B. Hunt, YTDThe Dow Jones Transportation Average, a broader gauge of the sector, fell more than 2% in midday ...