John Boyd Jr., a fourth-generation farmer from southwest Virginia, recently encountered a hefty fuel bill. Filling up his tractor cost him approximately $1,000. Boyd’s farm cultivates soybeans, corn, and wheat, and rears beef cattle. Harvesting corn demands continuous operation of his combines and heavy equipment. He reports that diesel now costs about $7 per gallon, nearly double from a year ago. AAA indicates the national average diesel price has risen above $6.51 per gallon, triggered by the geopolitical conflict involving the United States and Iran. This surpasses the prior record of $5.85 per gallon set in early September.

Boyd described the situation as a ‘national farm crisis’ during an interview with NPR’s Morning Edition. Farmers like him face unbudgeted expenses due to limited options for storing diesel on farms. Boyd transports several hundred gallons by truck from an external source to his combine.

I’m, as my daddy would say, robbing Peter to pay Paul, Boyd remarked, highlighting his need to redirect funds from other farm expenses to manage inflated fuel costs. He expresses limited capability to offset this expense. With corn priced at around $5 per bushel, he still faces the burden of covering the diesel costs essential for harvesting.

The pressure from rising fuel costs compounds other financial challenges for farmers. Boyd highlighted the plight of over 400 Black farmers who risk losing their farms without financial support. He noted that many farmers supported the current president but feel neglected by the administration amidst this crisis.

The increase in diesel prices results from a global fuel shortage exacerbated in the aftermath of military actions involving the United States, Israel, and Iran on February 28. Disrupted oil shipments in the Middle East, particularly through the Strait of Hormuz, have driven crude prices up, while diminished diesel supplies out of the region have narrowed fuel availability in the United States, Europe, and Asia.