Oil Shipment Disruptions Drive Diesel Costs Up in Midwest
What happened
Diesel fuel prices have risen sharply following disruptions to oil shipments through the Strait of Hormuz. Prices recently reached $6.25 a gallon, continuing an increase that has more than doubled since late January. This price jump was particularly sharp in March and early April, when shipments stopped.
Why it matters
The rising cost of diesel fuel is creating significant financial strain on cattle truckers operating in the Midwest. For some operators, fuel expenses now consume 60-65% of gross earnings, while freight prices have only increased by about 20 cents per mile since July.
The US military conflict in Iran is affecting oil prices.
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
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The entities involved
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Nebraska
state of the United States of America