Trump weighs diesel export limits as prices hit record high
publishers 7articles 9first reported 23 Sep, 18:04 UTCdeveloping since 22 Sep · 6 editionstop 25 #16
President Donald Trump is considering a temporary ban or other limits on U.S. diesel exports as his administration seeks to curb rising fuel costs ahead of the November midterm elections. Politico reported that the White House was preparing a plan for a 90-day ban.
The national average diesel price reached a record $6.51 a gallon Thursday, nearly $3 higher than a year earlier, according to AAA data cited by CNBC. Some lawmakers have called for halting exports in response.
The proposal has drawn opposition from U.S. business and energy groups. More than 30 organizations representing the oil, manufacturing and broader business sectors sent Trump a letter Wednesday urging him to reject an export ban or limits, The Hill reported. Industry representatives and other experts warned that restricting exports could cause refiners to reduce production, tightening supplies and eventually raising U.S. prices for diesel, gasoline and jet fuel rather than lowering them.
The European Commission also expressed concern, saying a ban would negatively affect both Europe and the United States. Europe could face higher fuel prices if U.S. diesel supplies were removed from the global market, while critics said disruptions to refining and trade could create higher prices and supply problems in the United States.
HOW THIS STORY WAS MADE
Written from 8 articles, 4 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; the editor kept it as written.
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- Given to the writer
- 8, 4 with the article's own text
- Independent newsrooms
- 8
- Second model (editor)
- kept as written
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- passed
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