Trump 'thinking about' diesel export ban, but says it could have 'negative impact' on gasoline
Trump recently said he was "very seriously" considering a diesel export ban, despite warnings from the U.S. oil industry that doing so would raise prices.
TL;DR
- President Trump is considering banning diesel exports to address high energy prices.
- He expressed concern that such a ban could lead to an increase in gasoline prices.
- The U.S. oil industry has warned that an export ban could force refineries to cut production and raise domestic energy prices.
- Trump mentioned that oil prices are expected to decrease soon.
- Energy Secretary Chris Wright noted that diesel prices have been falling and are expected to continue to do so, despite "tight" supplies due to global conflicts.
- Trump reiterated that Russia's war against Ukraine is a significant factor affecting diesel prices.
- Global diesel prices have surged due to disruptions in energy flows caused by conflicts in Iran and Ukraine.