Lower fuel prices and shortage of truckers

Lower fuel prices and shortage of truckers

From the Ag Information Network, I’m Bob Larson with your agribusiness update.

**State and federal officials and some California water districts have agreed to a $2.6 billion interim plan to improve water quality in the Sacramento-San Joaquin Delta.

State and federal agencies would fund much of the plan that would include payments to rice farmers who set land fallow to save water.

Irrigators in Modesto and Turlock are expressing concerns about the plan.

**Fuel prices fell again as COVID cases rose in China, and President Biden announced that the United States would release 180 million barrels from the Strategic Petroleum Reserve.

According to GasBuddy, the average gasoline price fell 5.4 cents to $4.17 per gallon last week, while diesel prices fell 3.7 cents to $5.08 per gallon.

But the national average is up 25.5 cents from a month ago and $1.31 more than a year ago.

**Recently introduced legislation could help with the current shortage of truckers.

U.S. trucking companies faced a record shortfall of around 80,000 drivers in 2021 due to hiring and retention issues.

The bipartisan Strengthening Supply Chains Through Truck Driver Incentives Act would create a two-year refundable tax credit of up to $7,500 for Class A truck drivers who drive at least 1,900 hours in the ‘year.

It would also create a refundable tax credit of up to $10,000 for new truckers or those taking a trucking apprenticeship.