How much will diesel prices rise in Europe if Trump vetoes exports
Analysts are calculating the effect on gas stations, inflation and financial markets.
US diesel prices are around $6.5 per gallon, which is cheaper than in Spain where it costs around 2 euros per liter. A potential ban on US diesel exports proposed by Donald Trump could lead to a decrease in diesel prices in the US, but an increase in Europe, which imports 380,000 barrels of diesel per day. According to Goldman Sachs, a 90-day ban could lead to a 20% increase in wholesale diesel prices in Europe.
This could lead to higher inflation, potentially by 0.2%, and put pressure on the European Central Bank to raise interest rates. The move could also negatively impact European stock markets.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
