US diesel export ban proposal could backfire globally

bbc.co.uk —

US President Donald Trump has backed a potential ban on US diesel exports to lower domestic prices, which are near a record $6.45 per gallon, but the move risks major economic disruption globally. The US produces 4-5 million barrels of diesel daily, exports 1.2-1.5 million, with 60-70% going to Latin America and significant volumes to Europe. Prices have spiked nearly 70% year-on-year due to conflict with Iran restricting shipping routes. Analysts warn the ban could backfire, causing international prices to skyrocket and feeding global inflation, while damaging the US reputation as a reliable energy supplier. The UK has begun preparing for the potential ban.


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US diesel export ban proposal could backfire globally | News Minimalist