Rising Diesel Prices Hitting Farmers on Both Sides of Border

Nov 08, 2022

The high cost of diesel fuel is hitting both Canadian and US farmers hard as they grind through the fall harvest.

According to the American Farm Bureau, US diesel prices are averaging US$5.32/gallon, more than $1.50 above the same time last year. On this side of the border, Natural Resources Canada is reporting the average national retail price of diesel for the week of Nov. 8 at just over $2.23/litre, up 52% from the same time last year and more than double the level of two years ago.

Canadian prices vary by province, with retail prices in New Brunswick pushing over the $3 mark on the weekend. For some farmers on this side of the border, that is adding an extra $1,000 per day to the cost of their harvest.

A ban on imports of petroleum from Russia, lower US production capacity, and seasonal demand are all contributing to the higher cost of diesel, with US Energy Information Administration (EIA) late last month reporting inventories of distillate fuels such as diesel and heating oil at their lowest levels since 2008.

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Video: Democratizing Gene Editing - Pairwise’s Vision for the Future of Agriculture

Pairwise has built its business around an idea that runs counter to how many companies approach innovation: make transformative technology easier to access.

In this Seed World interview, CEO Tom Adams discusses why broader access to gene editing could speed crop improvement, expand innovation opportunities and help agriculture address emerging challenges. He explains why Pairwise believes no single company can solve all of agriculture's problems alone—and why making advanced breeding technologies available to more organizations could accelerate progress across the industry.

The conversation explores how consumer trust influences technology adoption, why innovations like pitless cherries and seedless blackberries matter beyond convenience, and how future crop improvements could help address labor shortages, automation, harvest efficiency and other production challenges. Adams also shares his perspective on what the industry may be underestimating about the next wave of gene editing innovation.

Watch the full interview to hear why Pairwise believes agriculture is approaching an important inflection point for gene editing, and why the pace of innovation over the next decade could surprise the industry.

Topics Covered:

o Democratizing agricultural innovation

o Consumer trust and technology adoption

o The business case for sharing innovation

o Expanding innovation beyond major crops

o Next-generation breeding technologies