According to Bloomberg, U.S. President Donald Trump said that he is still ‘very seriously’ considering imposing an export ban on American diesel fuel in order to address the issue of high oil prices.
On the 27th, Trump said to reporters during a golf tournament: “This often leads to a slight increase in gasoline prices for cars. So we are seriously considering this measure—we may actually do so.”
Recently, the amount of diesel exported from the United States has increased significantly. Last month, it reached a weekly record level near 2 million barrels per day.
Reports indicate that several lawmakers from American agricultural states have urged Trump to limit U.S. diesel exports during the peak autumn harvest season.
Over the past week, Kevin Hassett, the director of the National Economic Council, Scott Bersten, the Secretary of the Treasury, and Trade Representative Jaime Johnson have been analyzing the possible impacts of short-term bans on U.S. diesel exports. This highlights the seriousness with which the Trump administration considers this idea.
The market expects that once the ban is implemented, diesel prices in the United States will drop significantly in the short term.
