Trump and Putin strike diesel pact as truckers warn of soaring costs
President Trump announced a deal with Russia’s Vladimir Putin to supply millions of tons of diesel, while truckers say rising fuel prices are squeezing their margins.
U.S. diesel prices have climbed to near-record levels, prompting President Donald Trump to announce a new supply deal with Russian President Vladimir Putin that will deliver more than 4.8 million tons of diesel to global markets. Trump claims the influx will cause prices to drop rapidly, a view supported by a Treasury Department general license authorizing transactions involving Russian diesel. Truckers, especially smaller owner-operators, warn that the 70% price rise since the Iran-Israel war began is eroding profit margins and could force many out of business, potentially inflating grocery and delivery costs.
Industry data show diesel now averages $6.28 per gallon, echoing the 2022 fuel crisis that drove operating costs up 53.7% for truckers. The move comes as the administration seeks to ease supply disruptions ahead of the November midterm elections, where fuel costs are a top voter concern. Critics argue the deal may offer only temporary relief while broader energy policy remains uncertain.
Why it matters
Higher diesel costs threaten truckers' viability and could push up everyday prices for consumers.
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