fuel prices

Farmers across the region are feeling the squeeze as fuel costs spike, cutting into what they actually earn per bushel.

Oil jumped more than two percent this week after military tensions flared up near the Strait of Hormuz, putting traders on high alert.

No deal with Iran, a war still grinding in Ukraine, and hurricane season ramping up. That combination is pushing oil prices higher and squeezing drivers at the pump.

A possible U.S.-Iran peace deal nudged oil prices down slightly, but Northwest drivers are still paying more at the pump. Diesel in Washington now averages $6.16 a gallon, the highest in the region.

Washington diesel climbed 13 cents in a single week to $5.96 a gallon, part of a nationwide price surge tied to refinery disruptions caused by Ukrainian strikes on Russian facilities.

Diesel prices dropped across Washington, Oregon, and Idaho this week, but refinery disruptions tied to the war in Ukraine are keeping fuel costs from falling as fast as oil prices.

Senator Judy Warnick wants Governor Ferguson to suspend the carbon pricing scheme, fearing it will further burden Washington's farmers and rural folks as gas prices remain high.

Gas prices are easing across the country, now below $4 a gallon, thanks to declining oil prices and geopolitical shifts involving Iran.

Cautious optimism; that’s the feeling for many oil investors after the United States and Iran announced a tentative peace deal, which helped prices drop to start the week.

Oil prices moved higher Monday following word that Iran was walking away from the negotiation table with the United States.