Diesel Prices Squeeze Farmers as Harvest Season Begins

Farmers in the United States are facing record-high diesel prices as they head into harvest season, adding to their already economically tumultuous year. Bart Bittner, a central Illinois farmer, has been adapting to diesel prices all year, relying on fuel he had stored on his farm to run his equipment until prices fell slightly this summer.

However, with diesel topping $6 per gallon for the first time in mid-September and averaging $6.68 per gallon across most of the central U.S., farmers are struggling to cope. The price increase is largely due to the ongoing war between Russia and Ukraine, as well as the blockage of the Strait of Hormuz after the US and Israel's attack on Iran.

Michael Langemeier, a professor of agricultural economics at Purdue University, notes that steep fuel prices are hitting farmers hard, especially when combined with other high input costs such as farm equipment and fertilizer. While higher corn and soybean prices may offer some relief, farmers warn that the cost of diesel means these gains won't be enough to offset rising expenses.