Trump weighs diesel export ban amid industry pushback

  • President Donald Trump has not decided whether to prohibit diesel fuel exports.
  • Record-high diesel prices are driving pressure for action before the midterm elections.
  • Petroleum flows through the Strait of Hormuz have increased in recent days.

President Donald Trump said Wednesday he had not decided whether to ban diesel exports, despite opposition from the oil and gas industry and some of his advisers. The White House is under growing pressure to reduce record-high diesel prices ahead of the midterm elections after Trump said last week he was open to export restrictions. Cabinet members and top industry officials argue that a ban could raise prices for gasoline and other fuels, and have proposed alternative measures. Trump said Energy Secretary Chris Wright and Interior Secretary Doug Burgum believe restrictions could help diesel prices but might increase costs elsewhere. He also expressed optimism that prices could ease as petroleum flows through the Strait of Hormuz have increased, while declining to rule out restrictions.

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Trump weighs diesel export ban amid industry pushback - CoinPost Terminal