Diesel prices continued to rise this week. Most suppliers increased price for green tractor diesel by 2c/l to 2.5c/l early last week. Typical prices for farmers now are between 76c/l and 80c/l, including VAT – depending on order size, payment terms and location.

Contractors and buying groups would be paying from 1.5c/l to 2.5c/l less for big supplies.

Farmers’ fuel prices are being driven up by a rise in general international oil prices. The rise shows no sign of stopping yet.

The benchmark Brent oil price went through the $80/barrel mark on Monday. This suggests that retail prices here could continue to rise over the coming days.

International prices are rising because of cuts in production by Saudi Arabia and Russia, by strong economic growth in big economies and by fears that Iran will have to reduce supply because of US-led political sanctions.

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Diesel driving farm costs up