Trump backs diesel export ban; Bessent says admin ‘examining that’
Officials are weighing a temporary export ban as diesel averages $6.53 a gallon, a move industry groups warn could disrupt markets and raise costs.
- 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.
369 Articles
369 Articles
Trump Administration Weighs Fuel Relief Measures to Combat Record Diesel Prices
The Trump administration is weighing short-term measures like easing fuel regulations, releasing strategic reserves, and boosting domestic production to combat record-high U.S. diesel prices that are straining trucking, farming, and manufacturing. Longer-term ideas focus on infrastructure and efficiency improvements. Market and international factors complicate quick fixes.
The Trump administration is considering a ban on diesel exports, aimed at controlling domestic fuel prices. The United States is one of the world's largest diesel exporters. A reduction in exports could lead to higher global diesel prices. Countries like Australia could also be affected by this decision.
Trump weighs US diesel export curbs as fuel prices surge before midterms
Donald Trump has floated curbs on US diesel exports as soaring fuel prices squeeze voters before the midterms. The move could deepen a global supply crunch and leave countries such as Australia more exposed.
Trump administration considers diesel export ban to help farmers and ranchers
The Trump administration is considering a ban or new restrictions on diesel exports in an effort to lower fuel costs across the country. Federal officials hope the potential move will offer financial relief to farmers and ranchers who are facing growing economic pressure.
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.
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