Trump backs US diesel export ban to curb record prices; analysts warn of backfire
President Donald Trump has stated he is "very seriously" considering a ban on US diesel exports to combat record-high domestic prices averaging $6.52 per gallon. The proposal has divided his administration, with Energy Secretary Chris Wright opposing a mandatory ban and advocating voluntary export reductions instead. The White House is conducting a formal economic assessment of a potential short-term ban. The EU, which sourced over 60% of its diesel imports from the US in August, has expressed concern. No final decision has been made.
Illustration