Fuel Prices Surge for South Dakota Truckers and Farmers
This morning I heard from my son who drives a truck buzz about fuel prices. He had received a text earlier from his boss encouraging him to keep his tank full as much as possible. The reason it seems is that diesel fuel may be in short supply in the near future.
I was curious so started thinking about why that may be happening.' Politics initially came to mind. One of the first things President Biden did after coming into power was striking down the Keystone Pipeline. But it turns out that may be only a part of the potential issue.
The price of diesel continued to skyrocket, surging 9.9 cents to $3.072 a gallon, according to data released by the Energy Information Administration on March 1, 2021.
Keep in mind that prices tend to surge and lag depending on supply at local outlets. I checked average prices across South Dakota today, March 2, 2021, and the average price was $2.78 for now. Truck Miles.com shows an average price of $2.99 nationwide.
While I was writing this a commercial came on from Volan Oil and a price increase is on his radar as well. He suggested contracting for your fuel as soon as possible. He used the word 'now.' Bruce Vollan from Vollan Oil mentioned in his commercial that he 'tried to warn people back in December prices would be going up and reiterated that those that depend on fuel for their livelihood book ahead and fill storage tanks wherever possible. He also confirmed market supply is getting very tight.
My friend Dan farms near the Armour-Wagner area and fuel prices were a part of our conversation this past weekend. He mentioned that they have secured fuel for the upcoming planting season and have seen fluctuations in prices as well.
Whether or not we see shortages of diesel fuel in the near future, one thing looks to be pretty evident. Prices are going up.
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