Treasury Secretary Scott Bessent indicated that the administration is evaluating the feasibility of a diesel export ban during a meeting between President Trump and Ukrainian President Zelenskyy. Trump emphasized the urgency of the decision, stating that he has instructed his team to consider halting diesel exports due to the current high prices.
As of now, diesel prices in the U.S. have surged to an unprecedented $6.53 per gallon, which is $2.84 higher than the same time last year, with California prices reaching $8.44 per gallon. This situation highlights the administration's concern over fuel affordability and its potential implications for the refining industry and broader energy market