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16 Trucking Bankruptcies in Less Than a Month: What $6 Diesel Is Doing to Small Carriers

FreightWaves counted at least 16 trucking companies in bankruptcy court in less than a month. Here's the diesel cash-flow math behind it, who gets hit first, and five ways to keep your truck rolling.

Portrait of Shawn Gresham, CDL-A driver and founder of Trucking Life with Shawn.

Last updated October 22, 2026

Quick answer: FreightWaves counted at least 16 trucking, delivery and transportation companies that went into bankruptcy court between late August and Sept. 21. Diesel isn't the only thing behind it, but it's the bill small carriers feel first: you pay for fuel today and get paid for the load weeks later. Here's the math, who gets hit first, and five ways to keep your truck off the next list.

By Shawn Gresham | 17 years CDL-A, zero violations

Sixteen trucking companies in bankruptcy court in less than a month. Diesel set an all-time record in September. And the small carriers are going down first.

I'm going to show you the math that's breaking them, and how to keep it from breaking you.

16 trucking companies bankrupt in less than a month

FreightWaves went through federal court filings and carrier records. It found at least 16 trucking, delivery and transportation companies that entered bankruptcy between late August and Sept. 21.

Eight of them filed Chapter 11. That's the reorganize-and-keep-running kind: Globemaster, Xoco Transport, Jett Transport & Materials, CLJ Transporting, Mill Creek Logistics-Illinois, RP Hay Hauling, Truckload LLC (Expedite Express) and Pacer Transport. Globemaster alone runs 51 power units.

The rest is what got my attention. FreightWaves called it "a cluster of smaller fleets" heading into Chapter 7, which generally means liquidation: selling what's left to pay the creditors. The ones with a fleet size listed ran from one truck to six. Outfits like a lot of us run.

FreightWaves puts the filings in a freight market with rising diesel and other high operating costs. Fuel isn't the only reason. But it's the bill that shows up every single day.

And it didn't stop on Sept. 21. On Oct. 21, FreightWaves reported at least 16 more carriers that filed between Sept. 18 and Oct. 21. It's careful to say filings alone don't prove an industry-wide jump. Fair enough. But if you run a small operation, you don't need a trend line. You need to stay off the next list.

I covered the first wave here: Diesel at $6.39 Is Killing Carriers.

Free diesel prices, updated daily

Before we get into the math, check what you're paying today.

I built a free diesel price page on this platform. It's updated every day. FreightWaves, the same outlet that broke the bankruptcy story, wrote about the platform on Oct. 16.

The state-by-state numbers are right on the page. Drop your email once and the full board unlocks.

👉 Check today's diesel prices →

The cash-flow squeeze

At the start of October, AAA had national diesel at $6.39 a gallon. A year earlier it was $3.71. That's $2.68 more on every gallon you put in the tank.

AAA's all-time record for diesel was set on Sept. 22 at $6.53. On Oct. 21 it was still $6.32.

Now do the math. A 150-gallon fill at $6.39 is about $960. You pay that at the pump today.

The load you're hauling? It might pay in 30, 60, sometimes 90 days. OOIDA's Lewie Pugh said the same thing to Scripps News. Until that money comes in, you're the bank. You're financing the whole trip out of your own pocket.

OOIDA estimates every $1 jump in a gallon of diesel costs an independent trucker about $400 more a week. Every week.

At about 6.5 miles per gallon, $6.39 diesel works out to nearly a dollar a mile on fuel alone. That's before insurance. Before tires. Before repairs. Before you pay yourself.

Wondering why the "relief" headlines haven't fixed it? Here's why the relief isn't reaching the pump.

When money is this tight, your CDL is the one thing you can't afford to lose. I wrote down what kept mine clean. 17 Years. Zero Violations. is the practical mindset, habits and decisions that keep a CDL intact, built from 17 years on the road with a clean record.

👉 Get 17 Years. Zero Violations. →

Who gets hit first

The small guys. One truck, two trucks, six trucks. No cash cushion.

That's not just me talking. The smaller fleets in the FreightWaves count ran one to six trucks. And in ATRI's release, TCW President Ben Banks called the fuel spike "particularly painful for small- to mid-size fleets."

Here's the part that hurts. OOIDA Foundation director Andrew King told OPIS that research shows about 40% of owner-operators can't negotiate a fuel surcharge.

And when you do get one, King said it typically lags the pump by one to two weeks. That gap comes out of your pocket.

Then on Oct. 18, ATRI released its 2026 Top Industry Issues report. Fuel prices are now the number one concern in trucking. The economy held that spot three years running. This year it fell to sixth.

Among drivers, owner-operators and company drivers together, the top three were fuel prices, truck parking and driver pay. That's not noise. That's the whole industry saying the same thing.

Free truck parking directory

Here's a fuel cost nobody counts: hunting for parking.

Circling at the end of your clock. Idling. Burning diesel looking for a spot to sleep. At these numbers, every one of those miles costs you.

That's why I built a free truck parking directory on this platform. Search your state and your interstate, plan your stop before you roll, and quit burning fuel looking for a place to shut down. Use it tonight.

👉 Find truck parking on your route →

5 ways to survive $6 diesel

1. Know your cost per mile to the penny. If you don't know it, you're guessing. And guessing is how you go broke.

2. Never take an all-in rate without checking the fuel math first. If the rate was set before diesel jumped, you may be hauling that load for free.

3. Ask for a fuel surcharge up front. Get it in writing before the wheels turn.

4. Plan your fuel stops before you roll. Same truck, same route, cheaper stop. That adds up fast. Check today's diesel prices before you leave the yard.

5. Cut idle time and cut unnecessary spending. At these prices, both are pure waste.

The drivers who last through a stretch like this aren't the loudest ones. They're the ones who know their numbers.

The Room of Hope

One more thing, and it's close to my heart.

We're building Trucking Life Academy, a CDL school right here in Dalton, Georgia. Built by drivers, not by corporate. Inside it is a room we're turning into the Room of Hope.

It'll be our podcast room. Every Sunday we'll broadcast the gospel from it. And it's where we'll talk about the things men need to talk about: mental health, stress, and what actually helps drivers.

The paint is in and the banner is going up. What we still need is lights, a couple of cameras and some microphones. I've been filming on one Samsung phone for four years.

If you want to be part of it, pick something from the Academy's Amazon wish list. The lights, cameras and microphone are on it. We'll put your name on the wall, the same way we did the Founders Wall.

→ Trucking Life Academy Amazon wish list

The bottom line

Diesel doesn't care how hard you work. The carriers that make it through are the ones who know their numbers and protect their CDL.

Know your cost per mile. Check diesel before you fuel. Plan your parking. And protect the license that pays your bills.

17 Years. Zero Violations. is how I kept mine clean for 17 years: the practical mindset, habits and decisions that keep a CDL intact.

👉 Get 17 Years. Zero Violations. →

Keep the shiny side up.

— Shawn

Frequently asked questions

Why are so many trucking companies going bankrupt right now?

FreightWaves counted at least 16 trucking, delivery and transportation companies in bankruptcy court between late August and Sept. 21, 2026, in a freight market with rising diesel and other high operating costs. Fuel hits small carriers hardest because they pay at the pump today and often don't get paid for the load for 30, 60 or even 90 days.

How much does a $1 jump in diesel cost an owner-operator?

OOIDA estimates that every $1 increase in a gallon of diesel costs an independent trucker about $400 more a week.

Who gets hit first when diesel spikes?

Small carriers with one to six trucks and no cash cushion. OOIDA Foundation research cited by OPIS says about 40% of owner-operators can't negotiate a fuel surcharge, and surcharges that do exist typically lag the pump by one to two weeks.

How can truckers survive $6 diesel?

Know your cost per mile to the penny, check the fuel math before you take an all-in rate, get a fuel surcharge in writing before the wheels turn, plan your fuel stops before you roll, and cut idle time and unnecessary spending.

What is the trucking industry's top concern in 2026?

Fuel prices. ATRI's 2026 Top Industry Issues report, released Oct. 18, ranked fuel prices the industry's No. 1 concern. Among drivers, the top three were fuel prices, truck parking and driver pay.

Sources

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