Politico says Trump's diesel deal "is actually a relative pittance compared to what would be needed to meaningfully bring prices down, market analysts said."
There are also questions of how much more diesel Russia can ship out given that Ukraine has already destroyed a large number of that country’s fuel refineries. This is now the third time Trump has announced plans he said would cut diesel prices down to size but that upon closer look don't live up to the hype. More diesel flooding the market from European allies? [But no]. Allowing freight carriers to use tax-extempt "dyed diesel" that farmers already have access to? A great, big meh. Overall, the past few weeks have shown "the White House flailing across all manner of desperate measures" to bring down prices, Rory Johnston, oil analyst at analyst firm Commodity Context, wrote yesterday.
There are also questions of how much more diesel Russia can ship out given that Ukraine has already destroyed a large number of that country’s fuel refineries. This is now the third time Trump has announced plans he said would cut diesel prices down to size but that upon closer look don't live up to the hype. More diesel flooding the market from European allies? [But no]. Allowing freight carriers to use tax-extempt "dyed diesel" that farmers already have access to? A great, big meh. Overall, the past few weeks have shown "the White House flailing across all manner of desperate measures" to bring down prices, Rory Johnston, oil analyst at analyst firm Commodity Context, wrote yesterday.