Double Trouble: Fuel economists forecast surge in diesel and home heating oil prices
Rural America will be feeling the strain of fuel costs as diesel and heating oil costs rise in tandem.
Fuel economists are sounding the alarm as diesel prices are poised to surge in the coming weeks, just as the harvest season reaches its peak. In an interview with Brownfield Ag News, Patrick DeHaan with Gas Buddy shared some insights on the forthcoming fuel price increases.
“A lot of that is simply because diesel and heating oil are coming into their peak season with ag consumption going up and with some Americans in rural areas filling up their home heating oil tanks,” Dehaan said.
For Rural America, this convergence could not come at a more pivotal time. Many households are in the middle of filling their home heating oil tanks to prepare for the cold months ahead. At the same time, farmers are revving up their equipment for the critical harvest period.
“For those that haven’t locked in and already filled up their diesel tanks, it’s obviously a little disheartening, especially when you consider that a month ago prices were quite a bit lower,” he explained.
Currently, AAA reports diesel prices averaging $4.57 per gallon, adding further financial pressure during an already demanding season.