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GasBuddy gives optimistic diesel market outlook
A fuel economist says diesel prices have softened recently and the outlook is favorable for farmers moving forward.
“We saw a pretty expensive 2023 for diesel, although it was an improvement to 2022,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
De Haan tells Brownfield warmer than expected weather this winter has reduced demand for heating oil. “That’s allowed diesel prices to start 2024 below the $4.00 per gallon mark, and that’s where we find prices today at about $3.87. I’m expecting that 2024 will bring further improvement to the average price of diesel over 2023.”
He says other ag inputs are also trending lower. “Some of the inflationary pressures have really moved back to disinflation with energy being a big part of that.”
De Haan says there has been an improvement in refining capacity.
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