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Skyrocketing Diesel Prices Rattle Republicans as Midterms Approach

Republicans in Iowa and Michigan are pushing to ban diesel exports to lower domestic costs. President Donald Trump indicated support on Tuesday, though Treasury Secretary Scott Bessent and Energy Secretary Chris Wright said the administration is still exploring options.
Diesel prices hit $6.52 per gallon Wednesday, a 73% increase since the Middle East war began. The Strait of Hormuz closure removed about 20% of global oil, while Ukraine's attacks on Russian refineries removed up to 1 million barrels daily.
"The price of diesel touches everything in our economy that needs to move," said economist Joseph Brusuelas. The American Petroleum Institute warned a ban could paradoxically raise prices for Americans as refiners struggle managing other fuel production.
Diesel costs have become a campaign flashpoint, with Democrat Elaine Luria citing high prices at a Virginia Beach roundtable Wednesday. Sen. Chuck Grassley remains the proposal's strongest champion, rejecting criticism from fuel-producing state colleagues.
Economist Phil Verleger warned export bans could trigger global recession and repeat President Richard Nixon's 1973 soybean embargo's failures. He cautioned such policies carry "extreme cost" and long-term damage to the United States fossil fuel industry.

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Skyrocketing diesel prices rattle Republicans as midterms approach – WTOP News

Diesel fuel, which powers the global economy and the American heartland, is hitting record prices as the war in the Middle East intensifies, leaving Republican candidates reeling and contemplating extreme steps that economists warn could only increase pain for consumers. Republicans in key states like Iowa and Michigan called for ending exports of diesel refined...

3 hours ago·Chevy Chase, United States

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