Donald Trump said he is considering “every day” the possibility of imposing a ban on diesel exports, as the White House seeks to curb the spike in fuel prices ahead of the November midterm elections. The U.S. president acknowledged that such a measure could push up gasoline prices, but argued that it could help lower the price of diesel fuel.
Speaking to reporters in the Oval Office, Trump confirmed that a ban on diesel exports remains a viable option for his administration.
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As he said, such a measure could have a “negative impact” on gasoline prices, but at a time when the administration is seeking ways to curb the rise in diesel prices, which have reached historic highs in the U.S.
The U.S. president attributed part of the price hikes to the effects of the war between Russia – Ukraine, noting that attacks on energy infrastructure have limited fuel production and exports.
At the same time, he argued that the U.S. remains in a better position than other countries, stating, “We think we’re doing very well.”
In his remarks, he made no mention of the war with Iran or the unrest related to the Strait of Hormuz, even though developments in the Middle East have significantly affected the global diesel market.
Wright: “We’ve lost exports from the Middle East and China”
Energy Minister Chris Wright presented a broader picture of the problems in the fuel market, emphasizing that supply disruptions are coming from many directions.
“We’ve lost some diesel exports from the Middle East, although we’re making up for them, and we’ve lost some diesel exports from China,” he said.
According to him, there are multiple pressures on the supply chain, while the U.S. government is expecting announcements from Europe soon that could lead to increased diesel exports.
Rising fuel prices have become a major political issue for the White House, with the midterm elections approaching.
The administration is also considering other measures, including voluntary restrictions on exports from refineries and broader use of tax-exempt “red” diesel, in an effort to ease pressure on prices.
Source: Proto Thema
