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U.S. Energy Chief: Diesel Export Ban Not Effective
The US Energy Secretary, Chris Wright, stated that imposing a ban on diesel exports would not be effective and would lead to higher prices for gasoline and jet fuel, at a time when diesel prices are soaring to record levels due to international conflicts such as the ongoing US-Israeli war with Iran and the conflict in Ukraine. He added that stopping diesel exports could result in an excess that would be difficult to store, potentially prompting reductions in refining rates and increased fuel costs. He also noted that the administration is working to increase diesel supplies through voluntary plans, and no final decisions have been made yet, in an effort to lower fuel prices which have become a political concern ahead of the November Congress elections.
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