Key facts
- President Donald Trump said he is still considering a ban on diesel fuel exports.
- Trump discussed the potential ban with Energy Secretary Chris Wright and Interior Secretary Doug Burgum.
- Advisers are concerned a diesel export ban could raise gasoline prices.
- Trump expressed optimism that petroleum flows through the Strait of Hormuz would help lower prices.
- Energy Secretary Chris Wright said new measures to lower diesel prices would be announced soon.
President Donald Trump stated on Wednesday that he has not yet made a final decision regarding a potential ban on diesel fuel exports. This comes amid significant opposition from the oil and gas industry and some of his advisors. The White House is under pressure to address record-high diesel prices ahead of the midterm elections, a concern Trump acknowledged last week when he expressed openness to export restrictions.
Members of Trump's cabinet and industry leaders have argued that such a ban could inadvertently increase prices for other fuels, including gasoline. They have been actively proposing alternative solutions to the president. Trump mentioned in an Oval Office event that he frequently discusses the matter with Energy Secretary Chris Wright and Interior Secretary Doug Burgum, noting their view that a ban might help diesel prices but could also raise the cost of other fuels.