Diesel Fuel Prices Spike

This article has been reprinted from the Oct. 11 USDA Grain Transportation Report.

During the week ending October 8, U.S. on-highway diesel fuel prices increased, just over 7 cents per gallon, to $3.385.

Prices have increased 11.2 cents over the past 2 weeks, and 17.2 cents over the last 7 weeks.

Increases in the crude oil market are putting pressure on diesel fuel prices.

The futures market continues to closely monitor global supply as volumes from Iran and Venezuela are reportedly shrinking.