White House adviser defends President Trump's crypto ties in wake of Clarity Act defeat

The White House on Wednesday denied reports of a planned 90-day ban on US diesel exports, rejecting claims that the Trump administration was considering such a measure amid record fuel prices. According to a White House official, a Politico report that the administration was preparing the ban was inaccurate. Energy Secretary Chris Wright also dismissed the idea, stating that a blanket diesel export ban would not work and could instead drive up the prices of gasoline and jet fuel.

Wright explained that such a restriction could lead to storage shortages at US refineries, forcing them to reduce production and subsequently increase prices for consumers. The administration's focus is now on finding the most efficient ways to increase diesel availability in the United States while maintaining maximum flows of gasoline and jet fuel, according to Wright.

Diesel prices surged to around $6.52 per gallon on Wednesday, a 76% increase from the previous year, due to disruptions in global fuel supplies caused by the conflicts in Iran and Ukraine. The White House denied the existence of the ban a day after President Trump expressed support for restricting exports. The issue has divided the administration, with some advocating for a full or partial export restriction, while others argue that it could lead to further price hikes and supply shortages.