Diesel Prices Squeeze Local Farmers Ahead of Harvest

Nick Cornea, a local farmer near Drinkwater, says rising diesel prices are squeezing farmers ahead of harvest. Despite buying fuel in bulk to secure lower prices, Cornea notes that his savings only go so far due to unstable global oil markets.

Cornea estimates he will pay around $1.20 to $1.30 per litre for bulk farm fuel this year, a significant increase from last year's average price of $1.07 per litre. He attributes the jump in prices to geopolitical tensions affecting global oil markets, particularly the recent escalations between the U.S. and Iran.

The head of petroleum analysis at GasBuddy, Patrick De Haan, confirms that the increase is not unique to Moose Jaw or Canada, but rather a result of global market forces. He notes that new escalations between the U.S. and Iran have pushed oil prices higher around the world.