White House Ditches Diesel Export Ban as US Prices Soar
The White House has ruled out a diesel export ban as prices surge above $6.50 per gallon in the US, despite President Donald Trump's comments suggesting support for such a measure.
Ambiguity over the Administration's stance on potential restrictions had been growing after Tuesday's comments from Trump and Treasury Secretary Scott Bessent, who said they were examining whether a full or partial ban could work.
However, Energy Secretary Chris Wright clarified Wednesday that 'nobody is considering a flat ban' on diesel exports, instead discussing ways to increase US diesel supply while maintaining maximum flows of gasoline and jet fuel.
The oil industry and analysts have warned that an export ban would ultimately backfire, exacerbating refining challenges and hiking prices further. The API noted that restricting U.S. energy exports 'would only compound the problem.'