Big business warns Trump against diesel export ban in joint letter
The national average for a gallon of diesel reached $6.51 on Thursday, nearly $3 more than the same period a year ago, according to data from AAA.
TL;DR
- Major U.S. business groups sent a joint letter to President Trump advising against a diesel export ban.
- They argue that a ban would lead to decreased fuel production, tighter supplies, and increased costs for Americans.
- President Trump has publicly supported the idea of an export ban to lower fuel prices.
- Diesel prices have significantly increased compared to the previous year, reaching an average of $6.51 per gallon.
- While a ban is being considered, some administration officials indicate a full ban is not being discussed, focusing instead on increasing domestic diesel supply.
- Global factors, including attacks on refineries in Russia and the Middle East, have contributed to reduced diesel supply and higher prices.