01/26/2022
Inflation or Price Gouging? It is true that we are going through an unprecedented inflation since the Great Depression in all consumer goods and services, however, I believe there are some people in the industry who are taking advantage of the situation by overcharging customers to make a quick buck. For example, in trucking industry the price of a Power Unit is up 15%-20%, which is understandable, but the price of Dry Van trailer and Reefers is at 200%-300%. A Dry Van Trailer averagely priced at $30K-$35K in May 2021 is now costing between $85K to $100K. How is that possible? Yes, the bottleneck in overall supply chain of steel and aluminum, labor, microchips, and raw material caused the shortage and sharp increase in demand which resulted the price to go upwards but I am having difficulty to wrap my head around 300%. I firmly believe there are certain suppliers in the industry who are involved in unethical practices to make huge profits at the expense of overall industry.