Diesel Prices Skyrocket Past $6 Per Gallon Amid Global Tensions

Record diesel prices have continued their upward trend, surpassing $6 per gallon in the US. According to the US Energy Information Administration (EIA), on-highway diesel averaged $6.28 per gallon as of September 15, up 32 cents from the prior week and $2.54 from the same week a year ago.

The national average price has been driven by conflicts in the Middle East, which have disrupted refining and distributing systems. Don Schaefer, president of the Mid-West Truckers Association, attributed the high prices to low inventories and increasing demand: 'With the inventories being so low and demand continuing to go up, that means your price is going to continue to go up until we get some sort of resolution.'

The Brent crude oil spot price has also reached a three-month high, increasing 7.9% to $130.80 per barrel. Higher fuel prices are putting pressure on farm budgets during harvest season, particularly for small operators who have not locked in supplies.