Trump says he’s ‘very seriously’ looking at diesel export ban
If a ban takes place, US diesel prices are widely expected to fall, at least in the short term
President Donald Trump is considering a ban on US diesel exports to tackle high prices, according to remarks made on Sunday (Sep 27) during the Presidents Cup golf tournament near Chicago. The move could potentially reduce US diesel prices in the short term, as diesel powers various heavy vehicles. Several lawmakers from farm states have urged Trump to limit exports during the fall harvest season.
Energy Secretary Chris Wright mentioned the administration is exploring voluntary export curbs as a potential alternative. Other officials, including Treasury Secretary Scott Bessent and US Trade Representative Jamie Jamieson Greer, have been researching the implications of a short-term ban. Oil executives and industry groups have advocated for suspending the federal diesel excise tax instead, but the decision on tax waiver is still under debate.
A ban would likely lead to a significant drop in US diesel prices, benefiting allies like Brazil and the UK, who urgently require fuel.
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Also reported by 2 other outlets
- Trump says US is ‘very seriously’ considering diesel export ban to tackle high prices thehindubusinessline.com
- Trump Says He’s ‘Very Seriously’ Looking at Diesel Export Ban bloomberg.com
