US Diesel Export Ban Looms as Industry and Administration Clash Over Record Prices
US diesel prices have surged to record highs above $6.50 per gallon, prompting President Trump to consider a 90-day ban on exports. While farm-state Republicans support the move to lower costs for farmers and truckers, the oil industry and several administration officials warn that halting exports would reduce refining output, raise prices for gasoline and jet fuel, and destabilize global markets. The decision is driven by political pressure ahead of midterm elections, despite technical concerns that the ban would backfire.
