(Des Moines, IA) — Diesel prices have reached a new record high in Iowa. AAA reports the statewide average for diesel fuel is now six dollars and ten cents per gallon, up from the previous record of six dollars and six cents set just one day earlier.
Even with the increase, Iowa’s average remains below the national average, which has reached a record $6.27 per gallon. AAA says the national average was about $3.69 per gallon one year ago.
The sharp increase in diesel prices is being driven by higher crude oil costs and disruptions to global fuel supplies. Brent crude has been trading around $ 107 per barrel as global supply concerns persist.
Diesel prices are particularly important to Iowa’s agricultural and trucking industries because the fuel is widely used by farm equipment, semi-trucks, and other commercial vehicles. Higher diesel costs can also increase transportation expenses and, in turn, affect the prices consumers pay for food and other goods.
AAA’s current national average is more than 70 percent higher than it was a year ago. The national diesel record is also continuing to rise, with the average increasing from six dollars and 23 cents on Monday to six dollars and 27 cents on Tuesday.
