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.
Trucking industry expert Lewie Pugh joins us to discuss rising diesel costs, challenges facing independent truckers, and the broader impact on agriculture and rural transportation.
Ethanol plants kept production steady, but softer gasoline demand and lower exports may limit near-term momentum.
Farmers are closely watching upcoming U.S.-China trade talks as rising fertilizer and diesel costs continue to pressure exports, margins, and rural economies.
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.
