Record Diesel Costs Hit Farmers in Elmwood and Bruce County
What happened
Farmers in Elmwood and Bruce County are contending with record-high diesel prices, which are described by agricultural workers as 'pretty devastating.' The average cost of diesel across the country reached $2.75 per litre in mid-September, surpassing the previous record of $2.25 set in 2022. This price hike is attributed to the Iran conflict disrupting global crude oil shipments.
From cbc.ca
Why it matters
While prices for corn, soy, and cattle have increased, farmers report that fuel prices have risen faster. Due to the high operational costs, some farmers are having to cut back on work, including contracts with Mennonite communities, because the travel costs are too high to sustain.
A farmer cited the impact of the Iran conflict on global oil prices, linking the issue to the work of Natural Resources Canada.
From cbc.ca
Who's involved
- ElmwoodFarm operations are being impacted by rising fuel prices.
- Bruce CountyThe county is experiencing operational cost increases due to fuel prices.
- Natural Resources CanadaThe department monitors average diesel costs across the country.
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.
- ElmwoodSpeculative
The farm operations in Elmwood could face revenue declines due to the inability to accept profitable contracts.
- Bruce CountySpeculative
Businesses in Bruce County might see increased operational costs due to the rising cost of essential inputs.
Keep exploring
The entities involved
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Elmwood
village in Pierce County, Wisconsin, United States
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Bruce County
county of Ontario, Canada
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Natural Resources Canada
Canadian government department responsible for natural resources, energy, minerals and metals, forests, earth sciences, mapping and remote sensing