Russian Diesel Expected to Reach US Before Midterms Amid High Fuel Costs
Sources indicate a significant amount of Russian diesel may arrive in the U.S. within two weeks, following a deal between President Trump and Russian President Putin.
Russian diesel is anticipated to begin flowing into the American market before the November 3 midterm elections, according to sources familiar with the matter. This development comes as fuel costs reached a record high of $6.53 per gallon last month. One American source indicated that the fuel "should be here in the next two weeks if we get everything done," adding that Russia had agreed to supply a "pretty substantial" quantity.
President Trump announced a suspension of U.S. sanctions on Russian diesel exports, while Russian President Vladimir Putin simultaneously lifted a diesel export ban that had been in place since last year. The exact logistics of the shipment remain unspecified, but Trump had previously stated the deal was intended to alleviate global price pressures. "That's a diesel deal that's going to be released into the world for the world market, because the world market suffered with high prices," Trump told reporters.
The agreement was reportedly reached after Trump expressed frustration with Ukrainian President Volodymyr Zelensky's campaign of strikes on Russian oil refineries, which had contributed to rising global prices. "When you hit refineries, that hurts American consumers, and that's not acceptable," a U.S. source told The Post. Despite initial opposition, Zelensky later agreed to cease attacks on refineries.
Experts estimate the diesel deal could generate approximately $4 billion in new revenue for Moscow. Trump also announced a limited "energy cease-fire" between Russia and Ukraine, though a U.S. official noted Russia's agreement to halt refinery and gas station attacks was contingent on Ukraine ceasing drone assaults on Russian refineries. Ukraine currently has no operating oil refineries.
The national average cost for diesel fuel stands at $6.30 per gallon, a significant increase from $3.66 a year ago and only slightly down from the late September all-time high, according to AAA data. These elevated fuel costs contribute to inflation, which rose to an annual rate of 3.7% in September.
Trump's administration has pursued other measures to address fuel costs, including allowing broader purchase of untaxed "red dye" diesel, though their impact has been limited. These efforts to stabilize fuel prices occur as Republicans face challenging midterm elections, with polling indicating widespread voter dissatisfaction despite recent positive economic data on job gains and foreign investment.