White House Rules Out Diesel Export Ban as Prices Surge Above $6.50
Imperial Oil Becomes First Major Alberta Energy Company to Oppose Separatism What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… The White House on Wednesdaydeniedthat the Administration is considering a ban on U.S.
diesel exports, clarifying comments from President Donald Trump and Treasury Secretary Scott Bessent a day earlier that appeared to leave the door open to restrictions as the average diesel price in America topped $6.50 per gallon.
A White House official denied a report that the Administration was preparing a 90-day ban on diesel exports, while Energy Secretary Chris Wright said nobody was considering a flat ban on shipments.
Instead, the Administration is discussing ways to get more diesel into the U.S.
market while maintaining maximum flows of gasoline and jet fuel, Wright said.
The clarification came after President Trump on Tuesday signaled support for keeping more U.S.
diesel at home, saying, “I’ve said let’s not send out the diesel.
We make a lot of diesel.” Treasury Secretary Bessent also said Tuesday, “We’re examining whether it’s feasible in terms of the overall refining capacity and whether a full or partial ban would work.” The oil industry and oil market analysts say a ban is not a fix to the high prices and would ultimately backfire on U.S.
As of Tuesday, the national average diesel price had hit$6.5276 a gallon, per AAA data, up by nearly $1 from a month ago and almost $3 a gallon higher than at this time last year.
The globaldiesel crunchresulting from the wars in Iran and Ukraine, which choke supply out of the Middle East and Russia, is being felt in price spikes everywhere, including in the United States, threatening to hit economies, including the world’s largest.
Administration, record-high diesel prices and gasoline prices at an all-time high for this time of year, when they normally drop due to declining demand, could be a major blow ahead of the midterm elections in early November.
Some Republican Senators led by Iowa’s Chuck Grassley are calling for a ban on diesel exports as record-high diesel prices are hitting American farmers and truckers.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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