Trump weighs diesel export ban to contain U.S. fuel prices, FT reports

President Donald Trump is contemplating several actions, including potentially banning the export of diesel fuel, to alleviate the steep rise in domestic fuel prices, according to a report by the Financial Times. Administration officials have deliberated on limiting international diesel sales and have consulted allies, such as Britain, regarding potential supply interruptions, based on information from individuals familiar with the talks.

The White House disclosed that Trump was examining options to alleviate fuel costs but had not yet made a decision on exports. This issue has sparked a debate between Republican legislators from agricultural regions and oil corporations, with farming associations expressing concern that high diesel prices might negatively impact farmers and industries ahead of the midterm elections.

Current U.S. diesel prices are at $6.53 per gallon, more than 70% higher than their prewar levels, as reported by the Financial Times. Other potential measures being considered include extending exemptions from the Jones Act, offering tax relief, and facilitating the use of lower-cost dyed diesel fuel, as noted in the report.