According to the Energy Information Administration (EIA) , US gasoline and diesel prices are expected to be at their the highest this summer since 2014. These rising costs are adding additional pressure to manufacturers, and risk halting production as businesses struggle to stay afloat. Here, Claudia Jarrett, US country manager at automation parts supplier EU Automation, reveals how Industry 4.0 can help manufacturers overcome rising energy prices.
In the US, the cost of natural gas delivered through pipes was up by 24 per cent in February from last year, while electricity went up by nine per cent. Prices will continue to rise due to ongoing effects of the COVID-19 pandemic, increased demand after disruptions caused by Hurricane Ida halted oil production in the Gulf coast, and the US’s continued support for Ukraine that, according to US defence secretary Lloyd Austin, could continue long into the future.
