fuel prices Archives

What will a Middle East war do to your costs and prices?

Bonds and Risk: Expect fuel costs to be up, interest costs down

By Andrew Allentuck November 13, 2024

Farmers are caught in a developing cost squeeze. Global oil costs are threatening to balloon from about US$80 today to over US$100 per barrel, which would be a 25 per cent leap. On the other hand, interest rates in the U.S. and Canada are scheduled to decline by as much as 1.5 per cent by […] Read more

Cassandra Morari, COO of Rack Petroleum Ltd. at Ag in Motion. Photo: Phil Franz-Warkentin

Machinery, News

Fuel hedging platform wins AIM innovation award

By Phil Franz-Warkentin July 17, 2024

Rack Petroleum Ltd.’s HedgeHog app allows users to confirm a guaranteed price for diesel for future delivery up to two years into the future.

Farmers with tractors bearing the slogan “If the farmer dies, the land dies” take part in a demonstration organized by the German Farmers’ Association under the slogan “Too much is too much! Now it’s over!” in front of the Brandenburg Gate. This was prompted by the German government’s plans to abolish the agricultural diesel tax and the motor vehicle tax exemption for agriculture and forestry. Photo: Fabian Sommer/dpa via Reuters Connect.

General, Reuters

German farmers protest with tractors against austerity measures

The German government proposed to abolish fuel subsidies to meet savings targets

By Reuters, GFM Network News December 18, 2023

According to next year's budget, a partial tax refund on agricultural diesel, along with a tax exemption for agricultural vehicles, will be abolished to meet the saving targets - a measure farmers said would threaten their livelihood and the competitiveness of Germany's agricultural sector.

Brent November 2023 crude oil with 20-day moving average (black line) and West Texas intermediate November 2023 crude oil (blue line). (Barchart)

General, Machinery, Markets, Reuters

Will oil hit US$100? It already did in some markets

Saudi Arabia, Russia 'in solid control'

By GFM Network News September 19, 2023

London | Reuters –– With oil investors and traders focused on an oil-price rally that has come close to US$100 a barrel, some grades of crude oil are already trading above that milestone, highlighting an expectation of tight supply. The outright price of Nigerian crude Qua Iboe surpassed $100 a barrel on Monday, according to […] Read more

NYMEX August 2023 West Texas Intermediate crude oil, with August 2023 Brent crude oil (black line). (Barchart)

Crops, Machinery, Markets

Extent of Saudi oil production cut unclear

Reported tensions within OPEC limit price gains

By GFM Network News June 6, 2023

MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably […] Read more

Pickup trucks roll out of General Motors’ assembly plant at Oshawa, Ont. (Media.gm.ca)

Livestock, Machinery, Markets, Reuters

GM CEO says ‘we are selling every truck we can build’

Rising fuel prices not seen undermining big truck demand, yet

By GFM Network News June 14, 2022

Detroit | Reuters — General Motors CEO Mary Barra said on Monday the automaker is “selling every truck we can build” and expanding North American truck-building capacity, even as U.S. gasoline prices hit record highs. Barra made her comments during the automaker’s annual shareholder meeting. GM is pursuing a two-track strategy: Investing heavily in electric […] Read more

CXN360 is a marketing app from Ag Exchange Network designed to help farmers get the best prices for their grain. Recently, a new tool called PXN360 was added to the app that helps farmers find the best prices on fuel.

Features, News

Find the best prices on petroleum, diesel and propane

A new tool from CXN360 offers easy access to the best fuel prices

By Mark Halsall April 7, 2022

Across the Prairies, producers continue to grapple with escalating fuel prices that make it harder to farm profitably — but there could be some relief in sight. PXN360 is a new offering from the company behind the popular online grain marketplace CXN360. PXN360 (the PXN stands for Petroleum Exchange Network) is a new tool from […] Read more

General, Machinery, Markets

Diesel prices, carbon tax cause headaches for farmers

By GFM Network News February 17, 2021

MarketsFarm — Crude oil prices have been steadily on the rise since last November as oil-producing nations implement production cuts and Canadian farmers already affected by climbing diesel prices will have to dig deeper into their wallets this April. On April 1, the federal government’s carbon levy on diesel will go up from 8.05 cents […] Read more

General, Markets

Tight supplies could see diesel prices rise

By GFM Network News November 6, 2018

CNS Canada – As supply tightens, farmers should consider stocking up on diesel before it’s too late, according to an analyst. “We think the market’s getting kind of overdone down here and this might be your best chance…if we do get a cold winter I think we’ll see these prices really pop,” said Phil Flynn […] Read more

Crops, Machinery

Grain handle helps lift CN quarterly revenue

By Grainews Staff, GFM Network News October 27, 2017

An increase in Canadian grain traffic helped support Canadian National Railway’s third-quarter revenues, though the costs of increased traffic ate at its bottom line. Montreal-based CN on Tuesday reported net income of $958 million on total revenues of $3.221 billion for the quarter ending Sept. 30, down from $972 million on $3.014 billion in the […] Read more

Alberta crop conditions improve: report

U.S. grains: Corn sets contract lows on expectations for big US crop

U.S. livestock: Cattle strength continues

GFM Network News