International oil prices jumped again on Wednesday after US President Joe Biden announced a ban on Russian oil imports, adding to the uncertainty caused by Russia's invasion of Ukraine.

Col Chapman from Burkinshaw Transport in Wagga said the surging price of diesel was already forcing the cost of delivering freight higher, making everything from agricultural fertilisers to toilet paper more expensive.

"We can only absorb so much of it," Mr Chapman said.

"It's actually going to be the customer [that] is then going to pass it on to the general public."

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Angus MacNeil, who owns a cropping and sheep farm at Rand, said rising transports costs will have a major impact on his ability to make a profit.

Mr MacNeil said the $30,000 a year he spends on diesel is very small compared to the "hundreds of thousands" of dollars he spends on fertilisers each year.

"The price of that (fertiliser) has doubled," he said.

"Diesel is a very big component of obviously road freight - it's not a huge component of our farm."

Skyrocketing prices will have an affect on Riverina grain growers using heavy machinery every day, said Brocklesby farmer and NSW Farmers grain committee chair, Justin Everitt.

He said that, unlike other industries like transport, farmers will have to wear the added costs instead of passing them onto consumers.

"Just about every piece of machinery runs on diesel, and this rapid increase is just going to be another input cost," he said. "It may become unsustainable to continue."

Australia's dependence on international oil exports has been thrown into the spotlight by Russia's ongoing invasion of Ukraine, with domestic supplies of diesel only enough to last 21 days.

Mr Everitt said Riverina grain growers needed more certainty and renewed calls for the federal government to increase its backup diesel storage to at least three months.

"We need to have that guarantee that there's fuel in the country of Australia," he said.

"Our industry is going to rely on fuel for many years ahead, so we need to ensure that supply of fuel is in the country."

Federal Riverina MP Michael McCormack said the government has committed $260 million toward increasing domestic diesel storage by 40 per cent.

"We are continuing to work constructively with our partners to build confidence in the market and help stabilise prices," he said.

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