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.
K-State’s Dr. Gregg Ibendahl breaks down the impacts of the Middle East ceasefire on energy markets and input costs, and what farmers should watch in the weeks ahead.
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Coal-based ethanol could weaken long-term export demand for corn-based fuels.
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Tight global supply is likely to keep fuel and fertilizer costs elevated.
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Lower U.S. ethanol production and stocks may support ethanol prices while strong export demand continues to support ethanol and corn markets.
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More Farms File for Bankruptcy As Strong Farm Loan Demand Boosts Bank Earnings
April 06, 2026 12:02 PM
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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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