Sharp rise in diesel fuel prices in regional areas

DIESEL fuel prices have risen sharply over the past six weeks in regional areas of Australia, due to currency effects, higher demand for heating oil heading into the northern hemisphere winter and outages in oil-producing trouble spots in the Middle East. Diesel fuel remains a major input for many cattle producers in Australia, used for pumping water, generating power, and transporting livestock and inputs. The International Energy Agency says demand for oil heading into 2017 is likely to be modest, due to economic slowdowns in the OECD, the Americas and China. “There is currently little evidence to suggest that economic…

Source: Beef Central
Sharp rise in diesel fuel prices in regional areas