[UPDATE] UK lobbies privately for an exemption as Trump weighs a US diesel export ban
Goldman Sachs says a ban would cut diesel prices at first, then push gasoline up each week it lasts.
Goldman Sachs estimates a diesel export ban would first cut diesel about 25 cents a gallon. Once storage fills, it would add about 30 cents a gallon to gasoline for each week it lasts. Diesel averaged $6.45 Monday, just under the $6.53 record set Sept. 22.
PREVIOUSLY
- Sept. 23 — Reuters reported the US was preparing a 90-day diesel export ban. A White House official denied it the same day, as Energy Secretary Chris Wright and Treasury Secretary Scott Bessent signaled doubts about the side effects.
- Sept. 24 — Trump called for halting diesel exports.
- Sept. 28 — Trump said he was "very seriously" considering a ban.
What a ban would stop:
- The US exports about 1.2 to 1.5 million barrels of diesel a day, net; outlets differ on the figure.
- 60-70% of US diesel exports go to Latin America, per BBC News.