US Diesel Prices Hit Record High of $6.05 Per Gallon Amidst Harvest Season

US diesel prices have reached an all-time high of $6.05 per gallon, causing distress for American farmers as they begin the harvest season. This surge is 60% higher than the average price before the US and Israel's war against Iran in late February.

The national average price of diesel rose to $5.85 a gallon on September 4 and continued to climb to its current record high, according to AAA. This increase has added to an already difficult year for farmers, who are also facing higher costs for fertiliser, seeds, equipment, chemicals, and other inputs.

Paul Mitchell, a professor of agricultural and applied economics at the University of Wisconsin-Madison, stated that 'Those prices hurt' not just during harvesting but also when moving crops from fields to farms and eventually to buyers. Jason Kurtz, who grows corn and soybeans near Forest City, Missouri, saw his fuel bill double this year due to higher diesel costs.

Kurtz's combine alone burns about 200 gallons of diesel per day for 30 days during harvest season, with additional fuel needed for a tractor and trucks. He also mentioned that he has already spent more on fertiliser and chemicals this year, making his finances 'already tight'. The surge in diesel prices is partly due to the jump in crude oil costs following disruptions to tanker traffic through the Strait of Hormuz.