(Des Moines, IA) — Rising diesel prices set records over the weekend in Iowa. According to Triple-A, the average statewide price for a gallon of diesel reached $6.28 on Sunday, breaking the previous record set Saturday by seven cents. A gallon of diesel cost $3.54 on average in Iowa this time last year. The price for a gallon of regular gasoline was $4.38 Sunday, $1.41 more than a year ago.
Global crude oil prices recently passed $100 per barrel because of conflict in the Middle East. Paired with the seasonal demand for harvest and winter heating, a majority of Iowans could be impacted.
Farmers face 75% higher fuel costs than previous years, and two-times the diesel expense of last year’s harvest season. Fuel has become the highest operational costs for truck fleets, harming potential profits. The combination of these higher costs could negatively impact retail food and goods prices.
