Trump backs diesel export ban; Bessent says admin ‘examining that’
Bessent said the administration is weighing a full or partial ban as diesel prices hit a record $6.53 a gallon, AAA said.
- 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.
183 Articles
183 Articles
United States President Donald Trump said on Tuesday he supports a ban on diesel exports, as the war in the Middle East has caused prices to skyrocket.
The United States is considering halting diesel exports as fuel prices soar, President Donald Trump said on Tuesday.
President Donald Trump of the United States spoke with journalists in support of a ban on the export of American diesel fuel to lower domestic prices. In a joint interview with the President of Ukraine, Vladimir Zelen, the head of State of the United States, advocated the cessation of the supply of diesel fuel abroad. The politician noted that he had already discussed the need for such a measure with his subordinates, wrote Axios. A similar stat…
There is a lot of pressure ahead of the midterm elections on the US president, whose popularity has been partly destroyed by high fuel prices.
Britain on notice for fuel 'disaster' after Donald Trump threatens diesel export ban at UN
Britain on notice for fuel 'disaster' after Donald Trump threatens diesel export ban at UN . Andy Burnham has been urged to avert a looming diesel fuel "disaster" after Donald Trump threatened a total export ban on the fuel at the UN
Coverage Details
Bias Distribution
- 41% of the sources lean Left
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
