Trump Considers Diesel Export Ban to Curb High Costs Despite Refinement Backfire Warnings

President Donald Trump confirmed the U.S. is very seriously considering an export ban on diesel to mitigate record domestic fuel costs, which reached an all-time peak of $6.5276 to $6.53 per gallon. Analysts and institutions, including Goldman Sachs and S&P Global CERA, caution that although diesel prices could initially drop by about 25 cents per gallon, domestic storage would rapidly saturate. This would force refiners to cut crude processing runs by up to 1.9 million to 2 million barrels per day, inadvertently driving domestic gasoline prices up by roughly 30 cents per gallon.