Trump Backs Diesel Export Ban Amid Record Fuel Prices
US President Donald Trump has endorsed a ban on diesel exports as fuel prices reach record highs. The move is aimed at reducing high fuel costs, which are a major concern for American voters ahead of the November midterm elections.
Diesel prices have surged to record levels in both the US and Europe due to wars in Iran and Ukraine, which have cut off supplies from major producers such as Russia, Saudi Arabia, and the UAE.
Several Republican candidates in competitive congressional races have also called for a ban on diesel exports. US Senator Dan Sullivan said: 'American fuel should stay home with Americans.' The US Agriculture Department has urged the White House to take action on diesel prices, citing high costs as a major concern.
However, energy officials warn that a ban could raise fuel prices on the coasts and tighten supplies for European allies. Energy Secretary Chris Wright said: 'If you start putting barriers on flows, pretty quickly you will reduce the production, and you’ll have less supply.' Oil interests have also pushed against a ban, saying it would cripple domestic jobs and lead to fuel shortages.