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Price quotes for red diesel have fallen to their lowest level for three years.
Crude oil dropped below US$70/barrel early this week, bringing the commodity to its lowest price since August 2021. That downturn is filtering through to fuel costs. Quotes for red diesel have eased to lows of 61.5p/l, ex. VAT, for a delivery of 2,250l.
That is down 5p to 6p/l from mid-August and the lowest quote recorded for red diesel since September 2021.
The advice to farmers is to price around. While the lowest quote for 2,250l is 61.5p, many suppliers are in the region of 64-65p, with the highest at 67.5p/l. It works out at a cost difference of £135 between the highest and lowest.
Quotes for DERV are also down 4p to 6p/l from mid-August, with prices issued early this week of 107p to 109p/l. DERV is also at its lowest level since autumn 2021.
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