Trump's diesel export ban could spike fuel prices across Europe
Trump is reportedly considering a 90-day ban on US diesel exports to cut pump prices.
US President Donald Trump is reportedly considering a 90-day ban on diesel exports to give American households relief at the pump before midterm elections. US diesel recently hit a record high of $6.52 a gallon.
Trump told staff he has already called for the ban. The EU reacted with concern, saying any disruption would harm both sides.
Europe relies heavily on US diesel. By August, America supplied about half of Europe's diesel imports, as supplies from war-damaged refineries in the Middle East and Russia have plummeted.
Experts warned the ban would be devastating. But experts fear that competing for cargoes on the global market would lead to higher market prices, said Josh Michalowski, head of European diesel pricing at Argus Media.
The US energy secretary, Chris Wright, has warned that banning exports was a blunt tool that could harm US fuel supplies in the long term.
- 90 days
- Proposed export ban duration
- $6.52 per gallon
- US diesel record price
- About half by August
- US share of Europe's diesel imports
- 197.75p per litre
- UK diesel average
Why it mattersDiesel bans ripple across global markets. If Europe pays more, worldwide fuel costs climb, hitting petrol pumps and transport bills everywhere.
AustraliaAustralia's fuel prices typically track global markets. A spike in European diesel could push up pump prices and transport costs for Australian drivers and freight.
✓ Claims checked against the source and corrected before publish. checked 23 h ago
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