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Trump says he backs diesel export ban to curb soaring energy costs
The Guardian • • nation
Key Points:
- Former President Donald Trump expressed support for a ban on diesel exports to help curb soaring energy costs, citing record-high diesel prices in the US and Europe due to reduced exports from major producers impacted by conflicts in Iran and Ukraine.
- Diesel prices in the US reached an average of $6.53 per gallon, a 75% increase from the previous year, driven by supply disruptions from Russia, Saudi Arabia, and the UAE.
- US Treasury Secretary Scott Bessent indicated the government is evaluating the feasibility of a full or partial diesel export ban, while some Republican Senate candidates advocate for such a measure to provide relief to American consumers.
- The American Fuel and Petrochemical Manufacturers trade group warned that an export ban could backfire by forcing domestic refiners to cut production, which would also reduce gasoline output.
- Trump also discussed with Ukrainian President Volodymyr Zelenskyy the impact of Ukrainian strikes on Russian oil refineries, highlighting the effect on diesel prices and expressing optimism about finding a solution to end the Russia-Ukraine war.
