Crude oil prices have declined through the month of July, putting pressure farm diesel prices. With harvest around the corner, it might be time to lock in some diesel for fall use.
“If you feel like you’ve got a good bid, pull the trigger on at least a portion of your fall needs,” says Davis Michaelsen with Pro Farmer Newsletter’s Inputs Monitor. He says if you need to top off for the remainder of summer, go ahead and do that too.
Could diesel prices go lower? Michaelsen says it’s a possibility. “I do believe we are going to see some price softness as sellers look to bring buyers into the market ahead of harvest,” he says. However, once harvest arrives, prices are expected to firm up. “Harvest will certainly put a hard floor on diesel prices,” Michaelsen says.
If you need to fill up on propane for home use this winter, Michaelsen says now is the time do it. The Inputs Monitor indicates propane prices won’t go much lower in the remainder of the year.