Trump's plan to veto diesel exports aggravates the crisis in Europe
Surrounded by the record fuel price, the Republican tries to make a move before the elections. The price spiral will worsen outside the US, with the Old Continent and Latin America in the eye of the hurricane.
The Trump administration's plan to impose a ban on diesel exports is exacerbating the crisis in Europe. The United States and its oil industry are profiting immensely from selling petroleum and its derivatives to the rest of the world. The world's leading economy is bridging the supply gap left by the Gulf countries due to the war in Iran and Russia's attacks on Ukraine's refineries.
However, all things have their limits, and the barrier was reached when diesel prices in American gas stations surpassed $6.50 per gallon on Tuesday. Shortly after this threshold was crossed, Donald Trump expressed, for the first time publicly, his support for banning the export of this fuel in order to cause a price drop. This measure would have a tremendous impact on an energy market that has become a pressure cooker, with Latin America and Europe, the main buyers of American diesel, being the major casualties.
Written by urgent.news from El Pais Economia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
