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Farm Diesel Prices

Farm Diesel Fuel prices seem to be near the lowest point they have been in the last 4 years.  Below is some information that Amanda Smith, UGA Extension Ag Economist, has compiled regarding farm diesel fuel prices.

Slide1

Above are the monthly farm diesel prices for the Southern Atlantic states from 2011-2014. Compared to the previous four years, diesel prices have been more stable. Prices have ranged from a low of $3.13 to a high of $3.86 per gallon. There appears to be some seasonality to diesel prices as you can see price fluctuating up and down throughout each year.

Slide2

Here are farm diesel prices for the Southern Atlantic states from 2011 through 2014 with average prices for each year listed above the chart. The seasonality of diesel price is more apparent in this slide with higher prices during spring and fall and lower prices in summer and winter.

Slide3

This is the monthly price index for farm diesel fuel. The red bar, set at 100, represents the average price of diesel fuel for the year. Each month’s price index gives the average price in that month as a percentage of the year’s average price. For example, according to the chart the January price index is 96.9. This means the price in January is typically 96.9 percent of the average price of diesel for the year or in other words, is 3.1 percent lower than the year’s average price. This chart tells farmers that based on the behavior of prices during the last four years, the lowest prices for diesel typically come in January, June and July and October through December. Average or above average prices come during February through May and August and September.

 

Rome Ethredge, Seminole County Extension Agent, recently wrote about this in his blog, Seminole Crop E News.  You can find his post at http://seminolecropnews.wordpress.com/2014/11/19/diesel-prices-lower/