Fuel prices have been holding relatively steady, but more relief could be on the way.
Energy analysts with GasBuddy say more production is coming online next month.
“Raising production by over 400,000 barrels a day, OPEC has been making a lot of surprising announcements as of late, but certainly has some challenges. Kazakhstan has been noticeably talking about potentially increasing oil production, and so OPEC is likely having to act here now to stem some of that frustration among Kazakhstan,” said Patrick DeHaan.
DeHaan is not able to estimate how far prices could drop, but he says all types should see a decrease, including gasoline, jet fuel, and diesel. Right now, AAA shows a gallon of diesel running around $3.52 per gallon, compared to $3.90 per gallon a year ago.
Stronger overseas demand for both fuel ethanol and feed co-products continues to reinforce corn use beyond the domestic market.
Ohio farmer Chris Gibbs joins us to discuss planting progress, weather conditions, and how geopolitical tensions are clouding his growing season outlook as input concerns continue to escalate.
Farm Bureau economist Dr. Faith Parum says EPA’s final biofuel volumes keep corn demand steady and strengthen the outlook for soybean-based diesel feedstocks.
RealAg Radio’s Shaun Haney and other experts break down ongoing energy market volatility, its impact on producer decision-making, and key indicators farmers should monitor moving forward.
The latest developments point to shifting export routes, higher congestion risk, and continuing cost pressure for grain, fertilizer, and energy shipments.
Purdue University’s Dr. Michael Langemeier joins us to break down the latest read on farmer sentiment in the April Ag Economy Barometer, and growing concerns about the impact of global conflict on farm inputs and income.
