Trump Downplays Support for Diesel Export Ban, White House Considers Alternative Price Reduction Measures

Trump, the President of the United States, has signaled that his support for banning US diesel exports has cooled, given that such a ban could trigger unexpected price increases. Meanwhile, a senior government official has hinted that Europe may soon release new diesel supplies into the market. Trump told reporters that he is still discussing restrictions on diesel exports with Energy Secretary Chris Wright and Interior Secretary Doug Burgum, but he also acknowledged that both have warned a full export ban could have unintended consequences. Trump said, "They believe this would help the diesel market, but it could drive up the prices of other commodities. I think things are good at the moment because oil prices are starting to fall. This seems to have a negative effect on gasoline, gasoline prices will rise slightly, while diesel prices will decline slightly, and we believe the current situation is very good." Sources revealed that White House officials are also considering a range of other measures, far less severe than a full export ban, to reduce diesel costs. These include encouraging some European countries that are highly dependent on US diesel to release part of their inventories.