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Bottom line: Regardless of what kind and how many trucks you own or operate, regularly reviewing business expenses like insurance costs can save you money and keep your business moving forward.

Fuel "drives" the trucking industry, and truckers are feeling the pinch at the pump now more than ever. In fact, diesel fuel costs have increased nearly 85 cents a gallon in the past year.

A recent survey by commercial auto insurer Progressive found that 69 percent of truckers say fuel costs are their most concerning business expense.

To offset these costs, truckers have tried:

-- Downsizing staff (16 percent)

-- Lengthening their workdays (12 percent)

-- Taking fewer vacation days (8 percent)

But while many truckers are taking serious steps to offset costs, a surprising 41 percent say they've done nothing.

"When times are tough, simple things like keeping up with regular vehicle maintenance and shopping around for insurance can save truckers hundreds of dollars," says Ken Bowman, with Progressive's commercial lines group. [...]

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Just before midnight, the Senate passed a sweeping energy bill requiring all cars and SUVs to average 35 miles a gallon by the year 2020.

Majority Leader Harry Reid held off the vote until late into the evening and shortly before midnight, senators voted 62-32 to cut off debate, and followed by passing the bill 65-27. The measure now awaits action by the House.

The bill is aimed to increase average fuel economy by 40 percent to 35 mpg for cars, SUVs and pickups by 2020.

It's the first significant change in fuel standards in 20 years, the first increase in vehicle fuel efficiency since the current 22.7 mpg for cars was put in place in 1989 and the first time Congress has imposed a new auto efficiency mandate in 32 years.

For automakers, the new bill means tougher standards, but not as tough as they'd expected. For drivers, it means cars that get better gas mileage. [...read more...]