Nationwide Trucking Company Files for Bankruptcy Amid Diesel Price Shock
Diesel has risen to record highs on the back of the Iran war and other factors, placing pressure on America's logistics sector.
Midwest Expedited Co., a nationwide trucking company based in Chicago, has filed for bankruptcy protection amid rising diesel prices, according to court documents. The company, founded in 2014 and operating a 20,000-square-foot facility, employs 95 trucks and a 24/7 dispatch team. As of September, the nationwide average diesel price stood at $6.30 per gallon, up from $3.68 a year ago.
Recent research suggests a surge in sector layoffs and trucking bankruptcies, with 16 firms entering bankruptcy proceedings between late August and September 21. Midwest Expedited Co. reported $817,000 in revenue since the beginning of 2026, with liabilities ranging between $1 million and $10 million, estimated at $2.3 million in total.
The company's combined vehicle mileage in 2023 reached 2.3 million miles, implying an overall cost of nearly $2.1 million annually. Experts warn that high diesel costs could lead to significant price increases for consumers and impact various sectors, particularly farmers and small carriers. President Trump has blamed Ukrainian strikes on Russian energy infrastructure for the recent spike, while most analysis attributes the high prices to the Iran war and the closure of the Strait of Hormuz.
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