The Trump administration will send $8 billion to U.S. farmers during harvest season to offset diesel costs, with diesel prices about 75% higher than a year ago. Speaking at a rally in Park City, Kansas, President Trump announced a one-time "harvest fuel relief program" as the nationwide diesel average reached $6.31 on Monday according to AAA, amid disrupted traffic through the Strait of Hormuz. Funds will come from the Commodity Credit Corp. and be based on planted acres, production costs, yield and price estimates, with payment rates to be released in November. The aid follows $12 billion in Farmer Bridge Assistance payments and $14 billion through enhanced crop insurance, and comes ahead of the Nov. 3 midterm elections, as higher fuel prices have weighed on Trump's low approval rating.
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