Trump says diesel export ban is still on the table
Energy Secretary Chris Wright said the administration, as well as European governments, would soon announce measures aimed at bringing down diesel prices.
President Donald Trump remains undecided on whether to implement a ban on diesel fuel exports, according to statements made on Wednesday. Despite criticism from the oil and gas industry and some of his advisers, the White House is under pressure to address record-high diesel prices before the midterm elections. Trump suggested last week that he was open to restricting exports, but his Cabinet and industry officials have pushed back, arguing that such a move could raise prices for all types of fuel, including gasoline.
At an Oval Office event, Trump indicated that he was "thinking about" the export ban, stating that he discussed the matter with Energy Secretary Chris Wright and Interior Secretary Doug Burgum. Wright, who opposes the ban, told POLITICO that the administration would soon announce measures to lower diesel prices, including an announcement from European governments about new diesel supplies coming to the market.
Trump echoed this sentiment, saying that while he is optimistic about prices decreasing due to increased petroleum flows through the Strait of Hormuz, he did not rule out the possibility of restricting diesel shipments. He acknowledged that such a move might have a negative impact on gasoline prices, but suggested it could also have a positive effect on diesel prices.
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