Diesel Prices Reach Record Levels, Squeezing U.S. Farmers' Bottom Line

U.S. farmers are facing increased harvest costs due to record diesel prices during peak crop harvesting season.

The nationwide average of $6.31 per gallon on Wednesday has put a strain on growers' budgets, particularly in California where prices have reached or exceeded $10 per gallon.

Virginia farmer John Boyd is one such affected grower, paying $7 per gallon for diesel while harvesting corn valued at $5 per bushel. His combine holds 140 gallons, making the cost of a full tank approximately $1,000.

'We have to harvest,' Jason Kurtz told Fortune. 'We have to run the machines. We have to use the diesel, so it cuts into our bottom line.'