Oil markets continue to rest after highs just days ago. The ceasefire is still in effect between Israel and Iran, helping keep a lid on fuel prices.
A gallon of diesel right now is around $3.70. AAA shows the same gallon cost $3.54 just a month ago. Despite the relatively quick climb, diesel is still cheaper than this time last year, when it was $3.79 a gallon. Right now, West Texas Intermediate Crude Oil is holding around $65 per barrel.
There were concerns earlier this week that Iran would close the Strait of Hormuz, a key route for global oil shipments. Those fears eased after a ceasefire agreement, but ethanol groups say the U.S. still needs a backup plan. The Renewable Fuels Association is urging the White House to expand storage and distribution of E15. CEO Geoff Cooper says a broader ethanol market could help contain future price spikes.
Farm Bureau Economist Dr. Faith Parum warns farmers to brace for more losses as the war in Iran sends shockwaves through the ag economy and raises input costs even further.
April 02, 2026 01:31 PM
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Fewer DEF-related shutdowns could mean more uptime during planting and harvest seasons.
April 02, 2026 11:44 AM
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Consumer spending continues, but value-focused buying is on the rise.
April 01, 2026 03:02 PM
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Higher energy activity likely keeps fuel and fertilizer costs elevated.
March 31, 2026 01:40 PM
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Rising fuel costs will soon increase grain transportation expenses.
March 31, 2026 06:00 AM
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At the White House’s “Celebration of Agriculture,” the Trump Administration announced a slate of policies to support farmers and ranchers, including biofuel mandates, SBA loan programs, and new labeling policies to boost domestic markets for ag products.
March 30, 2026 01:01 PM
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