Trump pledges $8 billion in relief for farmers struggling with soaring diesel prices

Updated on: October 20, 2026 / 8:36 AM EDT / CBS News

President Trump said his administration will provide $8 billion in aid to farmers hurt by record diesel prices.

"Tonight I'm also pleased to announce that the Department of Agriculture will be launching a new Harvest Fuel Relief program, providing our farmers with $8 billion in support to offset diesel costs during this harvest season," Mr. Trump said at a rally in Kansas Monday night.

"When Republicans win, we will pass even more funding for our farmers. We love our farmers," he added.

Earlier this month, Mr. Trump also signed an executive order to ease limits on the tax-free use of red-dyed diesel, a move aimed at lowering costs for farmers and truckers. That came after a $12 billion aid package for farmers announced by the Trump administration in December.

Farmers have faced financial pressures from soaring diesel prices, which are used to run agricultural machinery. Diesel reached a record of $6.53 a gallon on Sept. 22, although it's eased slightly since then, with average U.S. prices now at $6.32 a gallon, up from $3.62 a year ago, according to AAA data.

"This $8 billion investment will help bring…

Original source: https://www.cbsnews.com/moneywatch/