The members of the delegation requested the hearings in letters to Speaker of the House Nancy Pelosi, House Minority Leader John Boehner, Chairman of the House Energy and Commerce Committee John Dingell, and Chairman of the Oversight and Investigations Subcommittee of the House Energy and Commerce Committee Bart Stupak.

 

The Arkansas House Members said that the recent spike in prices has inflicted tremendous economic hardship on working families whose livelihood is vulnerable to the volatility of diesel prices. They said that increased diesel fuel prices add to the economic woes faced by working families who are already forced to deal with the rising costs of health care, groceries and high energy prices.

 

In addition, the Arkansas lawmakers said that their recent request for Congressional hearings would reinforce a call last week for the approach by the Arkansas Trucking Association, which represents 84,000 Arkansans who are employed by trucking companies and private carrier fleets.

 

 

We write to convey our strong concerns caused by record high diesel fuel prices that are inflicting economic hardships on working American families and interstate commerce. Your attention to this matter is urgently needed.

 

During the week of March 24, 2008, The Energy Information Administration (EIA) reported the national average price of retail on-highway diesel fuel was $3.98 per gallon. This figure was $1.31 per gallon higher than the previous year and current trends indicate that a sharp decline of prices is unlikely in the near future. 

 

This spike in prices has taken a dramatic toll on net disposable incomes for working families across this country. In addition, the rapidly increasing price of diesel fuel has placed tremendous economic pressure on the trucking, freight, agriculture, and business community whose livelihood is vulnerable to the volatility of diesel prices. Approximately four million people are employed by trucking companies, which about 95 percent are small family owned businesses. Unfortunately, many of these businesses have fallen victim to the exorbitant cost of diesel fuel and have already closed down, or dramatically scaled back their operations as a result.

 

In order to stay in business, many companies have been forced to pass some of this cost to the suppliers of the goods being transported. As businesses across this country are forced to absorb the cost of surging diesel prices, it can be expected that the burden will ultimately fall on the consumer. This unfortunate scenario is currently playing out in communities across America and it is imperative that Congress examine the ripple effects caused by record high diesel fuel prices.

 

Therefore, we are requesting a Congressional investigation into the explanations and causes of excessive prices of diesel fuel. It is imperative that Congress examine the impacts that these rapidly escalating prices are having on businesses, interstate commerce, the flow of goods throughout this country, and on our economy in general.