Crude oil prices are returning to levels that were familiar before the United States war with Iran, but diesel and gasoline prices are still higher. It is expected that diesel and gasoline prices will recede to normal levels, but it may take a few months, probably at least until the end of August. That’s the opinion of an agricultural and energy analyst in Champaign, Illinois.
That is Dave Chatterton with Strategic Farm Marketing. He says that farmer-customers will need to be cautious when locking in purchases for fall fuel needs and harvest season.
The risk is skewed to the upside because U.S. diesel supplies are still being exported. Chatterton says he wouldn’t say no to anyone filling a tank or contracting at least partial diesel fuel needs today for the remainder of the year.
