U.S. diesel prices hit record, squeezing farmers and food supply chains
Record U.S. diesel prices are increasing costs for farmers and transport operators, with potential knock-on effects for food prices.
The average U.S. diesel price reached a record $6.29 per gallon this week, up 68% from $3.74 a year earlier, according to Energy Information Administration data cited by Reuters. The surge is raising harvesting and transportation costs for farmers and could add pressure to food prices and small trucking companies.