Murky Future for Fuel Prices

Fuel prices fell again last week, but GasBuddy says the near-term future is murky. The decline marks the 14th consecutive week of declines. The nation’s average gas price declined 3.9 cents from a week ago to $3.64 per gallon. The national average is down 25.7 cents from a month ago but 45.9 cents higher than a year ago. The average diesel price declined 7.0 cents last week and stands at $4.93 per gallon. However, this week could change the downward trend, according to GasBuddy’s Patrick De Haan, who says, “With some issues arising in Plains and Great Lakes states as the transition to winter gasoline begins, I think we have the best potential to see the weekly trend of falling prices snapped.” West Coast states also continue to see increases as unexpected refinery issues continue to percolate, preventing a downward move. De Haan adds, “diesel prices should continue to ease after a much-needed jump in inventories last week.”

Related articles

Mississippi River Shipping Rates Hit Record High

Harvest season is in high gear, and U.S. farmers have another supply chain challenge. Bloomberg says there aren’t enough barges moving goods up and down the shrinking Mississippi River. Drought is drying a vital...

FSA to Consider Eliminating District Committees

Farm Service Agency Administrator Zach Ducheneaux told lawmakers late last week that he’ll give serious consideration to the recommendation to replace the FSA’s district committee system. Industry Update Dot Com says the USDA’s Equities...

Senate Votes on USDA Nominees Off Until After Elections

USDA nominees for top trade and food safety posts will now have to wait until after the midterm elections in November for Senate confirmation votes. The Senate wrapped up work Thursday to head home for...

Exports Keep Adding Value to the Red Meat Supply Chain

U.S red meat exports continue to post solid numbers. Erin Borror, an economist with the U.S. Meat Export Federation, spoke during the Ag Outlook Forum in Kansas City. She says exports continue adding value...

Economist: Recent Farm Income Forecast Reason for Concern

Earlier this month, the Department of Agriculture released its 2022 Farm Sector Income Forecast, which showed a mixed bag for the farm economy. USDA’s Economic Research Service predicts producer cash receipts will increase 21 percent...

Latest articles

%d bloggers like this: