Russia’s deal to supply the U.S. with diesel is unlikely to ease pain at the pump, experts say. ‘It’s kind of shuffling deck chairs on the Titanic’
President Donald Trump announced Friday that he had struck a deal with Russian President Vladimir Putin to immediately supply the U.S. more than 300,000 tons of diesel.
President Donald Trump recently signed an agreement with Russian President Vladimir Putin to supply the United States with an increase in diesel over the coming months. The deal involves 300,000 tons immediately, followed by 500,000 more in November and another 4 million tons in the future. Critics argue this move is unlikely to significantly impact the high prices consumers face at the pump or elsewhere.
Energy experts believe the Russian move will merely shift supply around, rather than lower prices globally. Higher diesel costs are already driving up inflation, making everyday goods more expensive. Some analysts warn that while the deal may help Russia offload excess diesel, it will not substantially lower prices in the U.S. or Europe.
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