{"id":41987,"date":"2024-02-20T05:47:14","date_gmt":"2024-02-20T05:47:14","guid":{"rendered":"https:\/\/www.my-equipment.com\/blog\/?p=41987"},"modified":"2024-03-28T06:22:25","modified_gmt":"2024-03-28T06:22:25","slug":"how-will-fuel-prices-impact-the-heavy-equipment-sector","status":"publish","type":"post","link":"https:\/\/www.my-equipment.com\/blog\/2024\/02\/how-will-fuel-prices-impact-the-heavy-equipment-sector\/","title":{"rendered":"How Will Fuel Prices Impact The Heavy Equipment Sector"},"content":{"rendered":"

The economic graph for the heavy equipment industry in the U.S. has turned the bottom side up. Firstly the supply chain put extreme barriers in the production and distribution of heavy equipment.<\/p><\/blockquote>\n

Now other factors like material shortage<\/a>, labor issues, and increased fuel and material costs are intensifying the trajectory.<\/p>\n

On that note, massive petrol and diesel price increments are the latest talk of the town.<\/p>\n

The non-residential construction project price for heavy machinery rose to 20.9% as compared to last year.<\/p>\n

Similarly, the contractors claimed that the price of creating 5 different types of nonresidential projects has risen to 19.9%.<\/p>\n

According to the Chief Economist at Associated General Contractors, the bid value index has become less in comparison to the cost index within 19 months.<\/p>\n

However, noticeable labor wage increments along with human resource shortages are cheery on top as worker\u2019s pay has increased to 6.3% from the last year which is the biggest hike in four decades in the history of the heavy construction equipment industry.<\/p>\n

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