U.S. Treasury Weighing Diesel Export Ban Called by Trump


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. Treasury Secretary Scott Bessent said Tuesday he 
was evaluating a ban on exports of U.S. diesel proposed by President Donald 
Trump to ensure adequate domestic supply of the fuel facing a global squeeze in 
supply.

   "We're examining whether it's feasible in terms of the overall refining 
capacity and whether a full or partial ban would work," Bessent told reporters.

   President Donald Trump raised the possibility of outlawing U.S. diesel 
exports on Tuesday at a news conference on the sidelines of the United Nations 
General Assembly in New York.

   "I've called for it within my people." Trump said of the proposal, adding 
that a final determination on the ban would come "fast, one way or the other."

   The ongoing squeeze in global middle distillate supplies -- driven by 
Russia's extended export ban, severe Persian Gulf transit bottlenecks, and U.S. 
inventories falling to historic lows for this time of year -- has sent domestic 
retail diesel prices surging to all-time highs above $6.50 gallon.




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