business

Rising Diesel Prices Expected to Increase Harvest Season Costs, According to Tom Kloza

14 Ağustos 2026Bloomberg

Tom Kloza, chief oil advisor to Gulf Oil, warns that the ongoing conflict in Iran is disrupting the global oil market, leading to soaring diesel prices that exceed $5 per gallon. This surge in fuel costs is expected to significantly raise expenses for the upcoming harvest season.
Kloza also highlighted that economic pressures on Iran may restrict the US's access to global oil supplies.
The Iran conflict has been a significant factor in the volatility of oil prices, affecting not only regional stability but also global markets. As countries navigate the complexities of energy dependence, the implications for agriculture and food security become increasingly pronounced.
The rising diesel prices pose a serious challenge for farmers and the agricultural sector, potentially leading to increased food prices and impacting overall economic stability. As geopolitical tensions continue to influence oil markets, this situation underscores the fragility of global supply chains and the interc…

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This article reflects the opinions of Tom Kloza and does not necessarily represent the views of Bloomberg or its editorial team.