πΊπΈ Record diesel prices are hitting American farmers and truckers at the worst possible moment, with harvest underway and costs passing through to grocery shelves.
πΈUS diesel averaged a record $6.53 a gallon in the week of Sept. 21, per the EIA, up from about $3.70 a year ago.
πΈ The USDA forecasts farm fuel and oil expenses will rise $4.8 billion this year, up 28.8% from 2025.
πΈ Union Pacific's fuel surcharge hit 71 cents per mile in July, up from 28 cents a year earlier, costs shippers pass on to farmers, DTN reported.
πΈ Shipping produce out of California now costs 40% to 120% more than a year ago, per DAT Freight & Analytics.
Independent truckers are especially exposed, since they typically pay for fuel upfront.
Ukrainian President Zelensky told the UN that systematically targeting Russian energy sites directly degrades the financial revenues and fuel supply chains feeding Russia's military operations.