AXTELL, Neb. — Diesel prices are dropping across the Midwest in an unusual trend heading into the summer months, with experts calling it a rare but welcome shift for drivers and farmers alike.
“It’s not typical this time of year to see gas prices dropping like they are,” said Brian Ortner, spokesperson for AAA Nebraska.
Normally, fuel prices rise as warmer months bring increased demand. But according to the U.S. Energy Information Administration, diesel prices in the Midwest have fallen by nearly 40 cents over the past year.
Ortner explained that the decrease is largely due to increased oil production by the Organization of the Petroleum Exporting Countries (OPEC), which has added more supply to the global market.
“The main component of any fuel, whether it’s unleaded gasoline or diesel, is crude oil,” Ortner said. “And crude is trading today at under $60 per barrel. That impacts the cost of fuel.”
As of now, the average diesel price across Nebraska stands at $3.29 per gallon, down from $3.66 this time last year. Ortner emphasized how significant this savings is, especially for farmers who rely heavily on diesel for machinery and transport.
“This is a great savings. If prices keep dropping, it will definitely benefit farmers,” he said.
The price dip is also seen as a positive for consumers as summer travel begins to pick up.
“Seeing gas prices drop is a welcome thing for drivers of any sort,” Ortner added.
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