Across the globe, geopolitical events are hitting U.S. farmers where it hurts: fuel.
Tension between Israel and Iran has the oil markets spooked. Energy analysts were predicting a slow summer for fuel prices, but those estimates are gone.
The national average for a gallon of diesel has gone up $0.04 over the last week, holding around $3.48, but increases are not likely to stop there. GasBuddy’s Patrick DeHaan says diesel could climb $0.15-$0.25 per gallon in the coming days.
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Diesel has eased for now, but the larger 2026 energy outlook still points to elevated fuel costs.
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Fuel costs are shaping food and demand patterns.
A prolonged Iran ceasefire offers limited relief as fertilizer concerns persist, prompting U.S. policy shifts and driving farmers to reconsider crop acreage.
