Ukrainian drone strikes on Russian oil infrastructure have slashed diesel exports from the world's second-largest supplier, undermining a Trump-Putin deal to boost shipments and driving up global fuel prices ahead of US midterm elections.
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01Summary
- 01Ukraine launched over 1,000 drones on Sunday, hitting a St. Petersburg oil terminal and nearly tripling attacks on Russian refineries since January.
- 02Russia's diesel exports fell by more than 75% to 141,000 barrels per day in September, down from 608,000 bpd a year earlier.
- 03President Donald Trump brokered a deal for Russia to supply 75,000 bpd in October and 124,000 bpd in November, but exports remain minimal.
- 04US national average diesel price reached $6.32 per gallon on Tuesday, nearly 75% higher than the same period last year.
- 05The International Energy Agency warned diesel supplies will likely stay constrained well into 2027.
02Why it matters
Diesel price rises affect transport and household heating costs directly, and political tensions around the midterms could lead to policy shifts in energy and foreign affairs.
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