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Michel Martin
,
Majd Al-Waheidi
John Boyd Jr., left, and filmmaker Josh Tickell speak at the Washington premiere of "Common Ground" on Nov. 13, 2023. Boyd is a fourth-generation Virginia farmer and president of the National Black Farmers Association. Paul Morigi/Getty Images hide caption
Your Money How are rising prices affecting you? NPR wants to know John Boyd Jr. filled up his tractor on Saturday. The bill was roughly $1,000.
Boyd, a fourth-generation farmer in southwest Virginia, grows soybeans, corn and wheat and raises beef cattle. He is in the middle of harvesting corn. During this time of year, his combines and other heavy equipment run constantly.
Now, he says, diesel is costing him about $7 a gallon, nearly double what he was paying a year ago.
Middle East conflict Oil companies report sky-high profits thanks to wartime crude prices The national average for diesel has climbed to more than $6.51 a gallon, according to AAA, another economic consequence of the war with Iran. The previous record, about $5.85 a gallon, was broken at the beginning of September.
"This is a national farm crisis for farmers," Boyd told NPR's Morning Edition. "I'm having to come up with money that's really not in the budget."
For Boyd, who is also founder and president of the National Black Farmers Association, there is little choice but to pay. He doesn't store diesel on his farm, so he fills a truck with a couple hundred gallons at a time, brings it back and transfers the fuel into his combine.
"I'm, as my daddy would say, robbing Peter to pay Paul," Boyd said, describing how he is shifting money from other farm expenses to cover the soaring cost of fuel.
There is little room to absorb the extra expense, he said. Corn is selling for about $5 per bushel, and he still has to cover the cost of the diesel needed to harvest it.
State of the World from NPR Economic effects of the war in Iran ripple around the globe Boyd said the higher fuel costs are adding to other financial pressures already facing farmers. He said more than 400 Black farmers are at risk of losing their farms and need financial assistance.
"A lot of these farmers voted for this president," Boyd said, "but now they find themselves losing their farm and no help from the administration."
The surge in diesel prices is part of a broader global fuel crunch that intensified after the United States and Israel attacked Iran on Feb. 28. Disruptions to oil shipments through the Middle East, including the Strait of Hormuz, have pushed crude prices higher, while reduced diesel supplies from the region have left fuel markets tight in the United States, Europe and Asia.
Listen to the interview by clicking on the blue button above. The digital version was edited by Suzanne Nuyen.
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