Trump Backs US Diesel Export Ban as Prices Hit Record $6.52 a Gallon

3 articles · Updated · Yahoo Finance · Sep 22

Trump said he has urged his team to stop US diesel exports, arguing the move could ease diesel costs and possibly have some effect on gasoline prices.
Treasury Secretary Scott Bessent said the administration is testing whether a full or partial ban is workable, given refining capacity and market constraints.
AAA put the national average diesel price at a record $6.52 a gallon, up 77% from a year ago, after supply shocks tied to the wars in Iran and Ukraine.
Analysts warned a ban could backfire because diesel is priced in a global market; with US output at 5.3 million barrels a day versus 3.6 million in domestic demand, forced discounts could curb production and lift prices again.