Trump's Russian diesel deal fails to lower U.S. prices
Prices rose after October announcement, and analysts say the strategy misdiagnosed the cause of the spike.
What to know
- Trump's October 9 deal to import Russian diesel fuel failed to lower prices; they rose from $6.20 to $6.35 per gallon in the following weeks.
- The 67% spike in diesel prices since February stems from Trump's Iran war disrupting Middle Eastern crude shipments, not from Ukrainian damage to Russian refineries as Trump claimed.
- The deal benefits Russia economically while providing no relief to American consumers or the broader economy ahead of the midterms.
- Analysts view the diesel deal as part of a pattern of unsuccessful Trump energy initiatives, including failed coal revival efforts and costly opposition to wind power.
“We're ending Joe Biden's war on beautiful, clean coal”
Trump · LA Times ↗ · Apr 7
Donald Trump PresidentMichael Hiltzik LA Times columnist
Mark Zandi Chief economist at Moody'sSteven Cohen Energy expert at Columbia University
How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts
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Hiltzik documents Trump's unsuccessful energy strategy
Hiltzik details Trump's broader energy policy failures, including failed efforts to revive coal, hostility to wind power despite its cost advantages, and a concealed Venezuelan oil deal.
“Cars run on gas, the economy runs on diesel…”
— Mark Zandi, chief economist at Moody's -
2 outlets Hiltzik: Trump's art of the bad deal
first by Mastodon, 11d ago · also LA Times
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- Hiltzik: Trump's diesel deal with Putin benefits no one except Putin LA Times · 11d ago
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On 9 October 2026 Trump announced a deal to import diesel claiming that it was a win that would begin to bring diesel prices down.
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Trump’s diesel deal with Putin benefits no one except Putin Trump’s focus on diesel is part and parcel of his bizarre obsession with the energy market in almost all its forms. This has been manifested in his efforts to revive the moribund coal mining industry Also in his “completely weird war on wind power,” to quote energy expert Steven Cohen of…
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HiltzikDeal benefits Russia but not U.S. prices
LA Times columnist Michael Hiltzik reports that diesel prices have risen since the announcement (from $6.20 to $6.35 per gallon), and attributes the broader 67% increase since February to Trump's Iran war strangling crude shipments through the Strait of Hormuz, not Ukraine.
“The week before his announcement, the average diesel price in the U.S. was $6.20 per gallon. At the beginning of last week, the average was $6.35.”
— Michael Hiltzik -
first by Forbes Business, 18d ago
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Trump’s diesel deal with Putin benefits no one except Putin https://www. latimes.com/business/story/202 6-11-02/trumps-diesel-deal-with-putin-benefits-no-one-except-putin?utm_source=flipboard&utm_medium=activitypub Posted into Business @ business-LATimes
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Analysts assess diesel deal as insufficient — Forbes contributor Ian Dexter Palmer concludes the deal appears inadequate and too contentious to reduce U.S. diesel prices.
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Trump predicts sharp diesel price decline — Trump posts on his social media platform that diesel prices would fall dramatically as a result of the deal.
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Trump announces Russian diesel import deal — Trump unveils an agreement to import nearly 5 million tons of Russian diesel fuel, framing it as a solution to rising energy costs ahead of midterm elections.