Trump: Talks on a diesel export ban happen “every day” — record prices fuel concern

U.S. President Donald Trump said on Wednesday that talks on a possible ban on exports of American diesel take place “every day,” while fuel prices in the country have reached record levels, as Al Jazeera reports. Such a ban would prevent or limit U.S. refiners from selling diesel to buyers abroad, theoretically leaving more fuel available for the domestic market.

Energy analysts have warned that an export ban could have unforeseeable consequences, potentially raising fuel prices both in the U.S. and abroad. Trump himself acknowledged that a ban “would have a negative impact on gasoline prices” but would lower diesel costs. According to him, Russia’s war in Ukraine is the main cause of the rise in oil prices.

However, U.S. Energy Secretary Chris Wright said the disruptions were more widespread, citing the war with Iran and broader global disruptions. The seven-month war with Iran has shaken global energy markets and pushed oil prices above $100 a barrel. Wright added that the Trump administration expected announcements soon from Europe on new diesel supplies.

The United States is the world’s largest exporter of diesel, and any restriction on exports would reverberate widely across global markets. The fuel-price issue has become one of the main political topics in the U.S., just weeks before the November midterm elections.