Trump weighs US diesel export ban to fight high prices, risking higher gas costs

finance.yahoo.com —

President Donald Trump said he is "very seriously" considering a US ban on diesel exports to combat high prices, potentially raising gasoline costs for consumers. Trump made the remarks Sunday at a golf tournament, as farm-state lawmakers push for export limits during harvest season. Diesel exports hit a weekly record near 2 million barrels a day last month, with US retail prices averaging about $6.50 a gallon. Administration officials are analyzing the ban's impact, while oil CEOs propose suspending the federal diesel excise tax instead. A ban would likely lower US prices short-term but force allies like Brazil and the UK to urgently seek fuel.


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