White House Dismisses Report of 90-Day Diesel Export Ban
A White House official denied a report that the US is preparing a 90-day diesel export ban, as the energy secretary said such a move would backfire.
A White House official on Wednesday rejected a news report claiming the United States was preparing a 90-day ban on diesel exports, as the administration weighs options to tame record fuel prices.
The denial followed a report that said Washington was readying the temporary export restriction to curb costs for a fuel used widely by farms, trains and trucks.
Diesel prices have climbed to record levels above $6.50 a gallon, with the wars in Iran and Ukraine constraining deliveries of oil and refined products. The surge poses a political risk for President Donald Trump ahead of the midterm elections.
Energy Secretary Chris Wright said earlier that an export ban would not work and could push up gasoline and jet fuel prices instead. He said the administration was discussing voluntary measures.
After the report emerged, Wright said nobody is considering a flat ban on fuel shipments.
"What's being discussed is what's the most efficient way to get more diesel into the United States of America, and continue maximum flows of gasoline and jet fuel," Wright said, without offering further details.