NEW YORK, October 12. /TASS/. The agreements between Moscow and Washington on diesel fuel will not dramatically change the price situation at US gas stations but they will allow President Donald Trump to score additional political points, Director of US-based Navigator Principal Investments Kyle Shostak told TASS.
"For the American economy, this deal has symbolic rather than practical significance. It seems to me that this is more of an image-building deal for Trump, designed to demonstrate his determination to improve the situation for American consumers ahead of the midterm elections," he said. "I believe such a measure will clearly be insufficient to fully saturate the market. According to various estimates, the projected prices at gas stations are unlikely to change significantly. However, this will give Trump the opportunity to score additional political points, which are so necessary for the Republicans."
"The supply of Russian diesel to the American and international markets is, without a doubt, positive news," Shostak added "Any additional measures to increase supply, even modest ones, will be welcomed by the market. Thus, diesel futures on the Chicago Mercantile Exchange fell by about 5%, dropping to $4.6 per gallon [3.78 liters - TASS] on the news of Russian supplies," he said.
On October 9, Russian President Vladimir Putin and US leader Donald Trump held a phone call during which they discussed the supply of petroleum products in particular. Moscow confirmed its readiness to supply oil and petroleum products to the American and global markets, the Russian leader said. The Washington administration is exempting supplies of Russian diesel fuel to global markets from US sanctions until April 7, 2027.