Unpacking the Complex Relationship Between Oil and Agriculture

If you’re wondering what factors influence the price of your weekly grocery bill, you’ll need to look a bit further than general inflation and corporate greed. Yes, those are key factors in the current painfully high food prices, but fluctuations in oil prices are also intimately correlated with the price of food staples.

  To be clear, the petroleum industry isn’t setting prices for food crops, but it is, according to some industry experts, determining the minimum price for key food items. “Petroleum is the floor,”…