A possible drop in fuel prices is coming soon

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.

Related Stories
RFA and ACE leaders join us to discuss the latest developments in ethanol policy, market impacts, and the path forward
EPA Administrator Lee Zeldin, in consultation with the U.S. Department of Energy and under the Clean Air Act, approved the temporary measure to help stabilize fuel supplies and reduce costs for consumers.
As farmers and ranchers navigate rising input costs, lawmakers are considering a roughly $15 billion aid package to help, which would be tied to the spending bill for the war with Iran.
Policy clarity will determine the trajectory of soybean crush demand, but producers in Kansas have shown that expanding local crush capacity strengthens basis and marketing options.
EPA Administrator Scott Mason shares updates on farm equipment regulations, regional accomplishments, and federal efforts supporting agriculture in honor of National Ag Day.
Crush demand is supporting soybeans despite biofuel uncertainty.

LATEST STORIES BY THIS AUTHOR:

R-CALF USA CEO Bill Bullard joins Market Day Report for his insight on the USDA’s plan to strengthen the U.S. beef industry.
For our Countdown to Convention with Culver’s, we explore how the sea of FFA blue impacts local businesses.
Until a phased reopening is inked, plan for tighter feeder availability, firmer basis near border yards, and continued reliance on domestic and Canadian sources.
Despite calm, sunny conditions to start the morning, the veteran duo quickly deciphered the bite – then shifted gears perfectly when the fish changed.