US Energy Secretary Chris Wright rejects a ban on diesel exports and warns that it could drive up prices of gasoline and jet fuel. Reuters reports this. The statement goes against President Donald Trump, who supports the idea of an export ban.
The price of diesel in the US stood at a record-high 6.52 dollars per gallon on Wednesday, 76 percent higher than a year earlier. Wright estimates that an export halt would force refineries to reduce production when storage capacity is filled, a risk that analysts at TACenergy also warn of.
The White House says that Trump is evaluating all options to push down fuel prices.
