Fuel
Diesel prices are just 20 cents from a record high, with multiple states already setting new records. Experts warn relief is uncertain as prices could remain elevated through 2026.
Strait of Hormuz disruptions and refinery attacks drive fuel costs higher as farmers face a 2026 planting season crunch.
Now farm tractors, combines and sprayers can be configured so there is no impact on engine power for up to 36 hours when a DEF system malfunction occurs, and a farmer has up to 100 engine hours at 25% power reduction before a 50% reduction takes hold.
The move is contingent on legislative action, which would temporarily lift the 18.3 cents tax per gallon on gasoline and 24 cents tax per gallon on diesel during the summer months.
Diesel prices hit $5.58 a gallon on Friday, smashing another record. With NOAA predicting an above-normal hurricane season, it could introduce more trouble for already short diesel supplies.
Infuriating price increases are the topic of the day, and but like the 80’s, rising inflation is driven largely by energy and the price of oil. It’s now less about the supply of oil, and more about refining capacity.
Diesel prices are causing sticker shock, as fears of a possible diesel shortage are growing. It’s not just retail diesel prices that are rapidly rising. Some farmers report booking off-road diesel for above $5.
The price surge comes as Europe announced a ban on Russian diesel fuel and G7 countries vowed to price-cap Russian oil products.
U.S. diesel prices are the highest ever, with warnings of shortages, especially in the eastern U.S., and the most intensive part of the farming season is still ahead.