Trump backs diesel export ban; Bessent says admin ‘examining that’
- 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.
358 Articles
358 Articles
Why US diesel export restrictions might not lower fuel prices as intended
President Donald Trump is considering restricting U.S. diesel exports as prices surge ahead of the midterm elections, with the national average reaching $6.51 per gallon, up from $3.69 a year ago, The New York Times reports. Supporters argue that limiting exports could keep more fuel in the U.S. and reduce costs for farmers, truckers and […]
United States President Donald Trump expressed support for the ban on the export of United States diesel, but analysts caution against the impact of this step on fuel prices in general.
Diesel ban: UK to be ‘even more exposed’ if Trump follows through
After Trump announced a ban on exports of diesel, Mauricio Alencar explores how it could impact the UK economy. President Trump’s newest trade threat sent markets into a frenzy once again on Friday. Earlier this week, Trump said he would back Republican proposals to halt exports of diesel in order to ease prices ahead of [...]
Washington. U.S. Energy Secretary Chris Wright has recently contacted executives of several major U.S. refineries to assess support for a voluntary restriction on diesel exports, while Donald Trump’s administration is looking for an alternative to a short-term ban, according to three people familiar with the talks.
leprogres.fr
In the wake of Donald Trump's threat, ready to ban U.S. diesel exports to lower prices in the U.S., the European Union spoke on Thursday of "a very bad idea." The impact would be devastating given the current supply difficulties.
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