Midwest Farmers Reel from Record-High Diesel Prices

Farmers in the Midwest's corn belt are facing soaring diesel prices that are taking a toll on their operations. Joe Hamilton, who farms corn and soybeans on 2,500 acres in Indiana's Delaware county, expects to use around 300 gallons of diesel fuel per day during the harvest season.

The estimated cost for fuel alone will be about $9,000 over the course of 30 harvest days. The high prices are due in part to the war with Iran and damaged refineries in Russia, as well as regional supply disruptions. For every 1,000 acres harvested, farmers can expect an additional $12,500 in fuel costs.

Large consumers of diesel fuel, such as school districts, are also feeling the pinch. The Columbus school district in Ohio has had to cut nearly 300 jobs and limit bussing for students due to rising transportation costs.