Would access to Russian diesel help drive down prices in the U.S.?
Updated on: October 12, 2026 / 3:52 PM EDT / CBS News
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.