Trump announces Russia will release millions of tons of diesel to help with skyrocketing costs

President Trump announced Russia has agreed to provide the world with millions of tons of diesel fuel over the next several months in a bid to decrease skyrocketing global prices.

"Additionally, based on the condition of their Diesel Refineries, Russia will then deliver, within a short period of time, 3,000,000 Tons of Diesel Fuel," Mr. Trump continued.

The moves by the Trump administration mark a reversal of the tight sanctions that have constrained Russia's economy since Putin launched a full-scale invasion of Ukraine in 2022. Last month, Mr. Trump signed a bill designed to make it even harder for Russia to profit off oil and gas exports by imposing steep tariffs on the largest buyers of Russian energy.

Mr. Trump had earlier teased a "big announcement coming up on diesel" during remarks Friday at a Columbus Day celebration, but offered little information to speculate on what the announcement would be about.

"We have, I think, some big news on that diesel situation," the president said. "We're gonna be knocking the hell out of it. And remember, what have we done? We stopped Iran from having a nuclear weapon. That's big time. And the prices — the prices will come tumbling."

Diesel prices have skyrocketed in recent months amid the war with Iran. The average price of a gallon of diesel is $6.28, according to AAA, which is up from $5.94 a month ago and $3.68 a year ago.

The Trump administration has looked into several ways to lower diesel prices, most recently signing an executive order this week allowing the use of red-dyed diesel on highways. Red-dyed diesel is exempt from the federal tax of 24.4 cents a gallon that applies to regular diesel.

"Between our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!" Mr. Trump wrote on Truth Social. "Lower prices for Americans, especially our Great Farmers, Ranchers, and Truckers, is my Greatest Priority. This is a very big and important announcement."

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