gasoline

Legislation ensuring fuels used for agricultural purposes are exempt from the Climate Commitment Act has been introduced in the Washington House.  Moses Lake Representative Tom Dent, sponsor of House Bill 1912, said the legislation will fix the mistakes made when CCA passed four years ago.   “That is t...

After trading higher last week, thanks to Iran's attack on Israel, oil prices have fallen again.  In Monday’s trade, West Texas Crude was trading around $74 per barrel, while off from last week’s numbers, still higher than the prices we saw during most of September.  Patrick DeHaan with...

Despite oil prices holding or even slipping, fuel prices continue to move higher across the United States, a trend that started in late December.  West Texas crude traded lower in Monday’s action, down by a little more than 1%, coming in at $77 per barrel.  But gasoline ...

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...

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...

Reuters says the White House is considering the possibility of removing restrictions on summer sales of higher ethanol blends as a way to help lower the cost of fuel for American drivers. Three sources close to the discussion told Reuters that President Biden is looking at ways to bring down the soaring cost of gasoline, which recently hit record highs ...

Oil prices are moving higher, and for the first time since late 2019, prices are not being dictated by the coronavirus. West Texas Crude was trading in the $88 a barrel range in Monday’s action. Patrick DeHaan with GasBuddy said from Russia and Ukraine, to Kazakhstan as well as Libya, investors have a lot to digest. ...

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 ...

Oil prices and fuel prices moved up noticeably during the first week of April.  Oil prices hit a five month high closing at $63 per barrel last week.  That encouraged diesel prices to move up as well.   The national average for a gallon of diesel increased one cent in the past week to $3.03, while Wash...

Gas and oil production has increased considerably in the United States over the past decade.  Between 2004 and 2014, production increased 69%, with two-thirds of that production originating on farmland.  What does that mean for both farm operators and non-operator landlords in terms of potential income, leasing, etc.? Clau...