Rising fuel costs led American farmers to spend $1.4 billion U.S. more on diesel during the spring planting season this year.
A study by the Joint Economic Committee found farmers in the U.S. spent considerably more on diesel fuel than they did last season as energy costs spiked due to the Iran war.
The study looked at the cost inputs involved in planting key crops such as corn, soybeans, wheat, and rice among U.S. farmers.
The increase in diesel spending to plant those crops represented a 63% year-over-year jump, according to the analysis.
Calculations were made using data from the Energy Information Administration (EIA) and estimates of average fuel use by crop supplied by the U.S. Department of Agriculture.
The study found that farmers in Illinois, Iowa, and Minnesota saw the highest increase in diesel costs this spring when crude oil prices topped $110 U.S. a barrel.
The analysis found that the price to refill a farm’s onsite fuel tank increased an average of $1,538 U.S. across 49 of America’s 50 states.
The U.S. farm lobby has been calling for more economic relief from the administration of President Donald Trump, arguing that rising fuel costs are hurting their margins and profits.
Leading diesel fuel suppliers in the U.S. include Chevron (NYSE: $CVX) and Marathon Petroleum (NYSE: $MPC).
