Oil prices are moving higher in trade due to the interest rate cut

Fuel bills have been lower recently, but oil saw some upward moves since the Fed cut interest rates last week. Officials with GasBuddy say several factors are at play, but they do not expect prices to continue their climb.

“So a lot of different wild cards. I don’t think oil prices are going to retest the sub-$70 barrel mark. We can head somewhere into the mid $70s for now, but that shouldn’t impact gasoline prices much simply because gasoline demand last week was rather sluggish, with GasBuddy data showing that U.S. gasoline demand last week fell by over two percent,” said Patrick DeHaan with Gasbuddy.com.

Right now, AAA has diesel at $3.58 per gallon, which is nearly $1 less compared to last year at this time. The nationwide average for gasoline is holding around $3.22 per gallon.

Related Stories
Alan Bjerga with the National Milk Producers Federation discusses how stewardship is driving efficiency, profitability, and competitiveness in the dairy industry.
Texas continues to play a critical role in the U.S. beef supply chain, with both cow-calf operations and feedlots contributing significantly to national production.
Labor supply may shift, but uncertainty remains for producers.
Spring Fieldwork Expands While Weather Challenges Persist Nationwide
U.S. Secretary of Agriculture Brooke Rollins announced the availability of over $275 million in grant funding in FY2026 for the specialty crop industry in the United States through three USDA programs.
Natalie Roy from AgriSafe Network talks about women’s role in agriculture and the increasing need to address their unique health and safety needs as they form a larger part of the workforce.

LATEST STORIES BY THIS AUTHOR:

The San Antonio Stock Show and Rodeo concluded last night, marking the end of another successful year showcasing youth exhibitors, livestock producers, and the spirit of agriculture.
Kurt Kovarik of Clean Fuels Alliance America joined us to break down the latest developments in the Renewable Fuel Standard rulemaking process and what it could mean for agriculture, energy markets, and rural economies.
Jennifer Tirey of the Illinois Pork Producers Association joined us to discuss efforts to bring pork back into Chicago Public Schools, the nutritional benefits for students, and what the decision could mean for pork producers across the state.
Farmer and retired colonial Joe Ricker joined us to highlight Ag Safety Awareness Program Week, share his work supporting veterans and farmers, and offer guidance on making safety a year-round priority on the farm.
High fertilizer costs and global risks threaten spring margins for growers.