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Trump Diesel Plan Falters
Donald Trump’s plan to import Russian diesel and bring down prices in the United States has failed to increase supply. Oil companies have held back from buying, fearing legal action and sanctions violations, while tankers have changed course for Brazil and ports in the Mediterranean. The United States has recorded no imports of Russian diesel since April 2022, while the price per gallon has risen from $3.75 before the war on Iran to about $6.16. U.S. refineries export around 1.5 million barrels a day to various markets.
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