The US allowed the introduction of a ban on the export of diesel

The administration of Donald trump is exploring the possibility of a full or partial ban on the export of diesel fuel, said U.S. Treasury Secretary Scott Bessent, reports CNBC.

“We are studying whether this is feasible given the overall refining capacity and whether a full or partial ban will work,” Bessent said during Trump’s meeting with Ukrainian President Volodymyr Zelensky on the sidelines of the UN General Assembly.

Trump has said he supports the ban and has already proposed it in discussions within the administration. I said let's not send diesel abroad. We produce a lot of diesel, he said. According to the President, the decision will be made in the near future “one way or another”.

The average cost of diesel fuel in the United States reached a record $6.53 per gallon — almost $3 more than a year earlier, follows from AAA data, which leads CNBC. In California, the price was $8.44. The wholesale cost of the diesel reached about $207 per barrel, more than $100 above the price of crude oil.

Prices rose on the back of declining global refining capacity. CNBC linked it to strikes on businesses in Russia and the Middle East, as well as restrictions on shipping through the Strait of Hormuz. U.S. refineries have increased diesel exports, seeking to take advantage of shortages and high prices.