Trump supports diesel export ban as fuel prices hit records

In the wake of record-high diesel prices in the United States, President Donald Trump has expressed his support for a ban on diesel exports. This comes as lawmakers from farm states push for such a measure as a means to combat the soaring cost of energy. Trump made this stance clear during a meeting with Ukrainian President Volodymyr Zelensky, stating, "I've said let's not send out the diesel. We make a lot of diesel... I've called for it. I've called for it within my people."

High fuel prices pose a challenge for Trump during the upcoming Nov 3 midterm elections, as his Republican allies strive to maintain control over both chambers of Congress. US Treasury Secretary Scott Bessent, who also attended the meeting, revealed that the administration is considering the feasibility of an export ban, weighing the merits of a full or partial restriction.

Republican Senator Chuck Grassley of Iowa has been vocal in his criticism of high diesel prices, which he claims are "KILLING FARMERS INCOME." Trump's support for the export ban puts him at odds with his top energy officials, who have expressed concerns that such a ban could lead to higher fuel prices on the coasts and reduce supplies for European allies.

Energy Secretary Chris Wright cautioned that a diesel export ban could result in a surplus of the product in the US Gulf Coast, prompting US refiners to decrease production rates. This, in turn, would reduce gasoline production. A ban would not, Wright stressed, lower petroleum prices and could even provoke retaliatory actions from energy-exporting nations, many of which are vital allies for the United States, such as California.