Diesel Price Spikes Drive Financial Hardship for Wisconsin Farmers
What happened
Diesel prices have doubled in the last year due to the wars in Iran and Russia/Ukraine. In the last month, the price of diesel climbed from around $5.30 to over $6.50 per gallon, according to AAA. Recent problems at oil refineries in Indiana and Illinois have worsened costs in the Great Lakes region.
From wpr.org
Why it matters
Fuel costs are cutting into the already narrow profit margins for farmers in Wisconsin, making it extremely challenging for them to afford the equipment and fuel needed for harvesting and transport.
From wpr.org
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.
- WisconsinSpeculative
The rising operational costs could cause financial distress and increased bankruptcies in the state.
- CenterPoint EnergySpeculative
Increased diesel costs might raise utility operating expenses for CenterPoint Energy.
- NiSourceSpeculative
Increased diesel costs might raise utility operating expenses for NiSource.
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The entities involved
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Indiana
state of the United States of America