Red diesel prices have rose significantly over the past month to highs of 59p/litre including taxes and duty. This is nearly a 10p/litre rise compared to June 2017, where prices were at 49p/litre including taxes and duty. Prices have gone up by nearly 3p/litre in the past month alone.
This will add a considerable cost to farmers over the coming months as we enter into one of the busiest periods for field work on farms with silage production kicking off in some parts.
The fear is that prices will also be high for the harvest. This will lead to increased pressure on farm incomes after what has been a difficult spring for many.
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The increase in prices is being driven by the rise in crude oil prices which have gone above $80/barrel for the first time since November 2014.
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Red diesel prices have rose significantly over the past month to highs of 59p/litre including taxes and duty. This is nearly a 10p/litre rise compared to June 2017, where prices were at 49p/litre including taxes and duty. Prices have gone up by nearly 3p/litre in the past month alone.
This will add a considerable cost to farmers over the coming months as we enter into one of the busiest periods for field work on farms with silage production kicking off in some parts.
The fear is that prices will also be high for the harvest. This will lead to increased pressure on farm incomes after what has been a difficult spring for many.
The increase in prices is being driven by the rise in crude oil prices which have gone above $80/barrel for the first time since November 2014.
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