Diesel Price Surge Hits Oklahoma Farmers Hard

Oklahoma farmers are facing a significant increase in diesel fuel prices just as they prepare for their fall harvests, which could add tens of thousands of dollars to their annual costs.

The current average price of diesel fuel in Oklahoma is $5.06 per gallon, up from $3.22 per gallon this time last year, according to a recent AAA report.

Jed Bower, an Ohio corn and soybean farmer who is also the President of the National Corn Growers Association, expects to pay an extra $20,000 to $25,000 in diesel costs this year compared to prices in January.

The high fuel costs are due to a combination of factors, including supply disruptions through the Strait of Hormuz and Russia's reduction of exports following Ukrainian attacks on its refineries.