Trump backs diesel export ban; Bessent says admin ‘examining that’
Trump says his administration is reviewing a diesel export ban as AAA reports the national average has climbed to a record $6.53 a gallon.
- On Saturday, Senator Chuck Grassley urged President Donald Trump to embargo diesel exports, citing record prices reaching $6.51 per gallon on Monday that are straining farmers in his agricultural state.
- Diesel prices have surged 83% so far this year, hitting record highs amid the Trump administration's war against Iran, which has disrupted Middle Eastern energy supplies and compounded inflationary pressure on fuel costs.
- Interior Secretary Doug Burgum told CNBC he is "not at all confident" an export ban would lower prices, while American Petroleum Institute CEO Mike Sommers warned the proposal would "make the problem worse, not better" for consumers.
- The White House confirmed on Monday it is not considering an export ban, though Senate Republicans remain divided on the proposal, with some calling it a "gimmick" that ignores market complexities.
- Energy analysts warn that trapping diesel in the Midwest could cause sharp price spikes on the East and West Coasts, where regions depend on imports; Garrett Golding of the Federal Reserve Bank of Dallas cautioned steep declines in Texas would be "offset by spikes in New York.
258 Articles
258 Articles
The Independent
The Independent (US)Trump ready to ban diesel gas exports to lower costs – despite internal pushback
If implemented, it would be the first restriction on American energy exports in over a decade
Why Trump banning diesel exports would upset the U.S. oil sector and upend global fuel markets—'cure would be far worse than the disease'
An export ban likely would slow U.S. refining and eventually push up all fuel prices, including gasoline, jet fuel, and diesel.
The Trump administration is preparing a plan to ban diesel exports for 90 days. The US president intends to move forward with the plan despite disagreements within the administration and from the oil industry, the news website Politico claims. The ban is aimed at lowering energy prices and giving a boost to Republican candidates ahead of the November midterm elections, Politico said, citing five sources familiar with the discussions. Reuters rep…
The Trump administration is reportedly preparing a plan to restrict U.S. diesel exports
نُشر هذا المقال أولاً عبر Cedarnews.net. لمتابعة المزيد من الأخبار والتقارير الحصرية، زورونا على موقعنا. The Trump administration is reportedly preparing a plan to restrict U.S. diesel exports for 90 days to address domestic fuel price increases, Politico reports. تم نشر هذا الخبر عبر موقع Cedarnews الإخباري. للاطلاع على مزيد من الأخبار العاجلة والتقارير الحصرية، زوروا موقعنا الرسمي.
The export ban is intended to lower energy prices in the United States before the November midterm elections.
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