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
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.
Export growth remains key for grain profitability.

LATEST STORIES BY THIS AUTHOR:

FarmHER Erin Cumings shares how Nationwide’s “Every STEP Counts” helps farm and agribusiness owners prioritize safety.
The idea of buying more beef from Argentina does not sit well with much of farm country, raising some questions from analysts and producers.
As we continue our Countdown to Convention presented by Culver’s, we meet some of the people who help bring the event to life.
Shaun Haney, Host of RealAg Radio, discusses President Trump’s move to halt trade talks with Canada and Mexico over a commercial about tariffs launched by the Government of Ontario.
Input costs are top of mind for farmers, as they contribute to higher prices and smaller profits.
The President’s trip to Asia this week follows a trade mission by the Iowa Soybean Association. Farmers say they were reminded that U.S. soybeans have an international reputation that can be easy to take for granted here at home.