Rising Diesel Prices Spark Farm Crisis in the US

Fourth-generation farmer John Boyd Jr., founder of the National Black Farmers Association, is sounding the alarm about rising diesel prices. According to Boyd, it now costs him $1,000 to fill his tractor with diesel fuel, up from double what he was paying last year at this time.

The United States Department of Agriculture estimates that national farming-related fuel and oil costs will rise by 28.8% this year, driving down farm profits. Net farm income is expected to fall 2.6% in nominal terms and 5.5% after inflation in 2026.

Boyd blames the Trump administration's tariff policy and the Iran war for contributing to agricultural production costs. 'All of these things have created a farm crisis here in America for America's farmers,' he said.