diesel prices News Updates

A U.S. deal for Russian diesel is too limited to meaningfully move prices at the pumps ahead of November’s midterm elections, analysts say.

President Donald Trump said he has struck a deal to obtain diesel from Russia, a stunning reversal of years of U.S. pressure on Moscow over its war with Ukraine.

Nearly 500,000 barrels a day of oil-refining capacity sit in the projected path of Hurricane Isaias, raising the risk that the U.S. fuel market will lose critical output.

President Donald Trump signed an executive order Oct. 5 aimed at lowering diesel costs as high fuel prices continue to pressure trucking fleets. 

President Trump said he won’t ban U.S. diesel exports, after Group of Seven nations and their partners agreed to release some of their emergency fuel stockpiles.

The global refining sector’s diesel crunch is likely to result in tight supply for the coming months, keeping prices high and weighing on demand.

Canadian Prime Minister Mark Carney’s government will extend the suspension of a fuel excise tax to Jan. 31, 2027.

U.S. diesel supplies have fallen to the lowest seasonal mark ever, threatening to push prices even higher for the global economy’s workhorse fuel.

Russia is considering limiting exports of diesel and jet fuel, Interfax said, as refinery run rates fall to multiyear lows amid Ukraine’s escalating attacks.

Energy prices climbed 7.8% from March to April and 22.7% from a year earlier. Gasoline soared 15.6% from March and diesel jumped 12.6%.