Tag: diesel prices

BusinessmarketsOct 9, 2026

Trump announces deal with Putin to release Russian diesel

US President Donald Trump has announced a new agreement with Russian President Vladimir Putin to release Russian diesel into the global market. The deal is aimed at curbing soaring fuel prices that have doubled in the US since the war with Iran began in February. Under the arrangement, Russia will immediately release 300,000 tonnes of diesel, followed by 500,000 tonnes in November and a subsequent million tonnes. Shortly after the announcement, the US Treasury issued a temporary license permitting Russian diesel into the market.

Donald TrumpVladimir Putindiesel pricesUS politicsRussia US relations

BusinessOct 5, 2026

UK Diesel Prices Hit Record £2 Per Litre Amid Iran Conflict

UK diesel prices have reached an all-time high of 200.01p per litre, driven primarily by the ongoing US-Iran conflict. The instability in the Middle East has disrupted oil production and transportation, particularly through the Strait of Hormuz, causing global crude prices to surge. Beyond the immediate impact on drivers, the rising costs are affecting the broader economy, including agriculture and haulage. With the UK importing 17% of its diesel from the US, potential export bans by the Trump administration could further exacerbate supply pressures and price hikes.

UK economydiesel pricesoil marketIran conflictenergy crisis