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Experts Warn Trump’s Diesel Export Ban Could Raise Gas Prices
Analysts say a ban could cut refinery runs by as much as 750,000 barrels a day and raise fuel prices at home and abroad.
- On Friday, President Donald Trump and Republican lawmakers considered restricting U.S. diesel exports to lower costs ahead of the midterm elections, as average prices hit $6.50 per gallon.
- Inventories fell to 107.9 million barrels by September 11, the lowest level in over four decades, while rising costs emerged as a top voter concern for the upcoming midterms.
- Analysts at Wood Mackenzie warned a complete ban could force refineries to cut production by 750,000 barrels daily, potentially increasing prices for U.S. consumers and global markets.
- Congressman Tim Burchett introduced legislation to restrict exports if prices reach $5 per gallon, though the White House stated President Trump is currently evaluating all available policy options.
- The Houston Chronicle editorial board criticized the plan Thursday, arguing the United States lacks "one big, frictionless domestic oil and gas market" and that export bans could backfire.
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41 Articles
41 Articles
Trump’s plan to ban diesel exports aggravates Europe and Latin America’s energy crisis
Facing record-high diesel prices at home, the Republican president is making a move before the November midterms. The resulting price spiral will have a negative impact outside the US
·Madrid, Spain
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Fuel prices may still rise due to disruptions in the oil market. At the end of this article, you can compare the impact of rising prices on your wallet.
·Helsinki, Finland
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The energy commissioner of the block, Dan Jørgensen, has begged Washington to maintain the "free flow" of fuel to avoid an offer shock and an even higher price escalation Read
·Madrid, Spain
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Total News Sources41
Leaning Left6Leaning Right4Center3Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
C 23%
R 31%
Factuality
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