Trump 'very seriously' considers US diesel export ban to fight high prices

straitstimes.com —

President Donald Trump said he is "very seriously" considering a US ban on diesel exports to combat high prices, a move that could impact global fuel markets. He made the remarks on Sept 27 near Chicago. Farm-state lawmakers have urged the ban during the fall harvest, as US diesel exports hit a weekly record near 2 million barrels a day in August. Administration officials are analyzing the idea, while oil CEOs propose suspending the diesel excise tax instead. US retail diesel prices average about US$6.50 a gallon, adding to voter anxiety before November's midterm elections. A ban would likely lower US prices but leave allies like Brazil and Britain urgently seeking fuel.


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