Trump's diesel deal with Russia is unlikely to significantly lower global fuel prices despite expectations of rapid relief

What happened: Trump announced a temporary suspension of some sanctions on Russia and began importing Russian diesel, with Russia confirming the arrangement. Experts say global diesel prices are unlikely to fall significantly soon. Key numbers: US diesel prices up about 60% over 12 months to $6.30 per gallon. Why it matters: Experts attribute high prices to the wars in Iran and Ukraine disrupting shipping and refinery output, not to supply deals. Trump floated US diesel export restrictions but abandoned the idea over storage limits and price risk. Coverage: 7 outlets in 24h

Trump announced a temporary suspension of some sanctions on Russia and began importing Russian diesel, with Russia confirming the arrangement. Experts say global diesel prices are unlikely to fall significantly soon.

Experts attribute high prices to the wars in Iran and Ukraine disrupting shipping and refinery output, not to supply deals. Trump floated US diesel export restrictions but abandoned the idea over storage limits and price risk.