Would access to Russian diesel help drive down prices in the U.S.?

Updated on: October 12, 2026 / 3:52 PM EDT / CBS News

Would access to Russian diesel help drive down prices in the U.S.?

TL;DR

  • President Trump announced Russia will supply significantly more diesel fuel to the U.S. and the world.
  • Energy experts are skeptical that this will lower U.S. diesel prices in the short term.
  • Potential issues include Russia's reduced refining capacity due to Ukrainian strikes and the relatively small volume of the increased supply.
  • The U.S. previously banned Russian oil imports following the war in Ukraine.
  • High diesel prices are pressuring costs for goods across various industries.
  • Lawmakers have expressed bipartisan opposition to the deal, viewing it as a financial lifeline to Russia.
  • The U.S. has implemented other measures to address fuel prices, including releasing oil from the Strategic Petroleum Reserve.