White House denies report US is considering a diesel export ban
Officials said a blanket ban is not under consideration, while advisers weigh voluntary steps and warn exports cuts could lift gasoline and jet fuel prices.
- On Wednesday, Energy Secretary Chris Wright denied reports of a 90-day diesel export ban, stating the administration is pursuing a "simpler, voluntary, cooperative fashion" to boost domestic supply without "blunt instruments" that reduce refining.
- President Donald Trump signaled support for an export ban on Tuesday, reflecting pressure from Republican lawmakers and farmers facing record fuel prices of $6.52 a gallon that are "KILLING FARMERS INCOME," according to Senator Chuck Grassley.
- The American Petroleum Institute warned that restricting exports would "remove the single largest source of global diesel," forcing refineries to cut runs and ultimately increasing costs for gasoline and jet fuel.
- US ultra-low-sulfur diesel futures fell 4% on Wednesday amid market volatility, though officials confirmed no final decision has been made regarding export restrictions.
- Wars in Iran and Ukraine have cut global exports, driving fuel prices to record levels and creating political liabilities for the Republican Party ahead of midterm elections, complicating the administration's search for energy relief.
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<p>The White House has denied preparing a 90-day ban on diesel exports The U.S. isn't preparing a 90-day ban on diesel fuel exports. Authorities are looking for ways to increase internal inventories without cutting gasoline and aviation fuel.</p>
According to Politico, the Trump administration is preparing a 90-day export ban.
Reformatorisch Dagblad
The US government is working on a plan to ban diesel exports for ninety days, insiders told news site Politico. According to them, President Donald Trump's administration is attempting to lower energy prices by doing so.
White House denies plan for US diesel export ban
US ultra-low-sulfur diesel futures HOc1 fell 4% on Wednesday after Politico reported that the White House is preparing a plan to ban diesel exports for 90 days, which the Trump Administration denied. Average US diesel prices are sitting near record highs at $6.52 a gallon, according to AAA, straining the farming, transportation and other industrial […]
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