US President Donald Trump said on Friday there would be “big news” on diesel, as prices of that fuel remain at near record highs in the weeks before Nov. 3 congressional elections that will determine control of Congress.
“We have a big announcement coming up on diesel,” Trump said without elaborating at a White House event. “We have, I think, some big news on that diesel situation. We’re going to be knocking the hell out of it.”
Diesel prices are up 70% since the US-Israeli war on Iran began despite two high-profile recent moves by Trump to boost supplies of the fuel: pressuring allies to release emergency reserves and expanding access to tax-exempt red-dyed diesel.
The wars in Iran and Ukraine have triggered an unprecedented global fuel supply crunch, pushing average US diesel prices to $6.28 a gallon on Thursday according to AAA.
(Reporting by Bo Erickson, Susan Heavey, Doina Chiacu; Editing by Ismail Shakil)