Updated

US diesel prices have surged to an all-time high, a trend traced back to the Iran conflict that began in late February and drove up wholesale oil prices. Truckers and small business owners across the country, from Alabama to Ohio, are describing how the spike is forcing them to raise costs or absorb losses. The timing has proven especially painful for American farmers, as diesel prices have spiked just as corn and soybean harvests get underway. Farmers rely heavily on diesel-powered equipment to bring in crops, and many were already struggling financially before this latest cost increase, though some market factors are offsetting the impact.