Diesel Prices Skyrocket to Record Highs in North Dakota

Farmers in North Dakota are facing record diesel prices as the cost of fuel hovers at $6 per gallon. The high price is largely due to wars in the Middle East and Russia, which have driven up global demand for oil.

Chris McDonald, president of the North Dakota Soybean Growers Association, said farmers who did not secure a contracted price for diesel before the harvest season are now facing significant losses. 'That can erase your profit,' he warned.

The Russia-Ukraine war has also contributed to the high prices, with Russia announcing it would continue to ban diesel exports. This uncharted territory is making it difficult for farmers to navigate their budgets and predict their earnings.