White House Drops Plans for Diesel Export Ban
The Trump administration will not implement a 90-day ban on diesel exports after Energy Secretary Chris Wright opposed the measure to protect the refining complex.
The White House has provided assurances that it will not move forward with a potential 90-day ban on diesel exports. Senator Ted Cruz relayed this decision to refinery heads during a call with the American Fuel and Petrochemical Manufacturers Association.
Donald Trump had previously supported the ban as a means to lower retail diesel prices, which recently reached an average of $6.48 a gallon. However, Energy Secretary Chris Wright opposed a blanket restriction, arguing that such a move would be detrimental to the refining complex. Wright stated that the U.S. will not cease diesel exports and instead advocated for voluntary industry measures to increase domestic supply.
To provide price relief without an export ban, the administration is considering alternative options. These include the potential use of dyed red diesel on highways to suspend certain federal taxes.
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