White House Backs Away From Proposed US Diesel Export Ban

Key Facts

1Senator Ted Cruz relayed assurances from the White House to refinery heads that a diesel export ban is not moving forward.

2The US national average retail diesel price stood at $6.48 a gallon, while Brent crude settled around $104.30 a barrel.

Senator Ted Cruz relayed assurances from the White House to refinery heads that a diesel export ban is not moving forward at this time. Bloomberg reported that Cruz informed the American Fuel and Petrochemical Manufacturers Association that the administration has backed away from a potential 90-day ban, despite previous internal debates between President Donald Trump and Energy Secretary Chris Wright.

The US national average retail diesel price stood at $6.48 a gallon, while Brent crude settled around $104.30 a barrel, according to ZeroHedge. This policy shift follows warnings that export curbs could cause more economic harm than good, with Energy Secretary Chris Wright opposing a blanket ban in favor of industry measures to bolster domestic supply.