And crude is soaring again so Diesel rates to jump again tomorrow.
I wonder when farmers get the message that Trump does not exactly have their interest in mind.
His big concerns at the moment are the ballroom and ducking the fallout from the Epstein files.
Energy Futures
Oil is up another $2.84 as I type, heading back towards the $90 level.
The AAA prices do not reflect this jump. So, if this sticks, we could easily see a ten cent jump in the price of diesel tomorrow.
But that’s OK.
Q: Why?
A: Trump says it’s a tiny price to pay.
Meanwhile, debt is soaring, Bessent is manipulating the bond market, and the strait is closed.
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August 19, 2026: Debt topped $40 trillion today. But let’s discuss what really matters.
What market manipulation is next? Diesel crack spreads?
August 19, 2026: US Debt Tops $40 Trillion, the Pace Is What’s Most Alarming
Debt topped $40 trillion today. But let’s discuss what really matters.
To understand why diesel is rising much faster than the price of gasoline, please see US Diesel Crack Surpasses $100 a Barrel for the First Time, Farmers Suffer
Record high crack spreads. Serious economic ramifications.
The short answer is there is a shortage of global refining capacity. Bond manipulation sure will not fix that.
American farmers are happy to give up their livelihoods as long as Israel can kill more Palestinian children and control more desert. Maybe they can force Jeebus to finally show back up!
Good Morning Farmers.
Diesel is at a rock-bottom low today; and it won’t be this cheap again until at least next summer.
You can thank President Trump for the relief!
I was in Cal in 1974 waiting in line to get fuel for my 1962 Impala SS. 9 miles to the gallon. Odd and even days (based on plate numbers). I read College books waiting to fuel up. It was unreal weird. Fuel jumped RAPIDLY back then.
I look for the politicians to establish a strategic diesel reserve for emergencies like Trump’s war. Democrats will be outraged that this wasn’t done in anticipation of diesel price hikes and Republicans will blame Biden for his lack of foresight. Diesel prices are certain circus bait.
Gasoline has a shelf life of 3-6 months; diesel 6-12 months; heating oil 18-24 months; oil forever.
We setup a 1 mb gasoline reserve in the northeast in 2014 after Hurricane Sandy shut down all the refineries in 2012. The reserve was closed in 2024.
The short shelf life of fuels and the cost of building and maintaining storage is the reason we don’t have strategic fuel reserves for the public.