gasoline

News From China Pushes Oil Prices Higher
News From China Pushes Oil Prices Higher
Oil prices have inched a little higher in the past week, rebounding from the lowest prices we’ve seen in roughly a year.  A barrel of West Texas was up roughly $2 in Monday’s trade, hovering around $75.  And while that is higher week-over-week, Patrick DeHaan with GasBuddy noted that’s still one of the lowest prices we’ve seen in 2022.  DeHaan noted the recent swing higher in o...
2021 Farm Production Expenses Surpassed $390 Billion
2021 Farm Production Expenses Surpassed $390 Billion
According to the USDA, farm production expenses hit $392.9 billion in 2021, a 7.3% year-over-year increase ($3.66.2 billion in 2020).  The four biggest expenditures totaled $189.4 billion, just over 48% of all expenses last year.  Those four are feed at 16%, farm services at 11%, livestock, poultry, and related expenses at 10%, with labor accounting for 9.4%. The total fu...
What is Pushing Prices Higher?
As food prices continue to spike, President Biden is hopeful his antitrust push may help consumers. However, others argue too much spending and inflationary federal policies may mean no relief in the short term. President Biden recently said his antitrust efforts will boost competition in agriculture, helping more farmers while reducing food inflation, which is now up 3 ...