Gas prices in Okeechobee County rose up to over $4 per gallon around Lake Okeechobee per gallon through the first week of September ...
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OKEECHOBEE — Gas prices in Okeechobee County rose up to over $4 per gallon through the first week of September as the Iran conflict dragged into its seventh month.
According to data gathered by GasBuddy the average price of gas in Okeechobee County was $4.12 per gallon. Diesel prices in Okeechobee have already risen well over $5 per gallon, with data gathered by GasBuddy showing the prices for a gallon of diesel now getting close to the $6 per gallon mark.
Higher diesel prices could have an inflationary effect on the prices of goods in the economy, as diesel is a key fuel for shipping and manufacturing goods.
Higher diesel prices also affect farmers, who already operate on thin margins. But it isn’t just rising diesel costs that farmers have to contend with. Farmers are seeing input costs increase on multiple fronts due to the Iran conflict. The closure of the Strait of Hormuz near Iran has also caused a spike in fertilizer prices worldwide.
According to the Department of Energy, the U.S. Strategic Petroleum Reserve fell by about 1.2 million barrels to 285.4 million barrels in the first week of September. That is the lowest level since November 1982. Brent crude oil futures rose past $100 a barrel on Sept. 9, while WTI Crude was up at $94.52 a barrel.