U.S. President Donald Trump said on September 30 that he had not yet decided whether to impose a ban on diesel fuel exports, despite fierce opposition to the idea in recent days from the oil and gas industry and some of his own advisers. UNN reports, citing Politico.
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The White House is facing mounting pressure to take action to lower record-high diesel fuel prices ahead of the midterm elections, and Trump said last week that he would be open to restricting exports. But members of his Cabinet and senior industry officials argue that such a move would drive up prices for all types of fuel, including gasoline, and they have sought to present the U.S. president with alternative measures.
"I'm thinking about it," Trump said of an export ban at an event in the Oval Office. "I talk a lot with [Energy Secretary] Chris [Wright] and [Interior Secretary] Doug [Burgum] about it — they think it will help diesel, but it could raise the price of other things."
Trump said he was optimistic about prices coming down because oil supplies through the Strait of Hormuz had increased in recent days, but he refused to rule out restricting diesel fuel supplies.
"It's something we're thinking and talking about every day," he said. "But it seems that it will negatively affect gasoline, so it will go up a little, while diesel fuel will go down a little."
Wright, who strongly opposes the ban and was with Trump in the Oval Office on Wednesday, said the administration would soon announce measures aimed at lowering diesel fuel prices. Europe will also announce steps to increase supply on the market, he said.
"You will hear announcements from our friends in Europe about new diesel fuel supplies that will come onto the market and significantly lower diesel fuel prices," Wright said.
The publication reported on Tuesday that the White House was considering asking European governments to release diesel fuel from their own strategic reserves.
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