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Article updated: 10/9/2012 2:35 PM

High gas, diesel prices hurt California farm industry

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The ExxonMobil refinery in Torrance, Calif., is seen Monday. For the third straight day, the California statewide average price for a gallon of regular rose to an all-time high, hitting $4.668, according to AAA.

Associated Press

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Farmers in California’s Central Valley say record high gas and diesel prices are putting pressure on their bottom lines. But economists say it’s unlikely that will translate into significantly higher food prices in the U.S. The rise in gas prices has slowed, but the price Tuesday was still a state record and the highest in the nation.