Russia diesel pact unlikely to cool U.S. pump prices, experts say
President Trump said Friday that Russia would immediately send the U.S. more than 300,000 tons of diesel, with additional shipments planned later. Energy policy experts doubt the move will meaningfully lower diesel prices, which recently hit a record national average of $6.53 a gallon. Higher diesel costs are feeding into freight, grocery and other consumer expenses as the midterm elections approach.
The agreement would have Russia ship over 300,000 tons of diesel to the United States right away, with 500,000 tons slated for November and 4 million tons later. It reverses Washington's earlier ban on Russian oil imports imposed after the war between Russia and Ukraine began.
Diesel's national average reached $6.53 per gallon on Sept. 22, AAA reported, and stood near $6.28 Friday versus almost $3.68 a year earlier. Europe also saw records. Russia had restricted diesel exports in July after Ukrainian drone attacks on refineries, while Middle East refining capacity remains constrained by Strait of Hormuz disruptions.
If additional diesel arrives, it may offer only limited relief. Truckers, farmers and ranchers could still face elevated fuel costs, while freight and delivery surcharges may keep pressure on grocery and online-order prices. Consumers, especially those buying perishable foods, may continue to see higher costs. The move could slightly ease local supply in some areas, but global market shifts may offset it.