diesel News Updates

The U.S. has emerged as the world’s supplier of last resort, with diesel exports surging to a weekly record of nearly 2 million barrels a day in August.

Energy experts have said export curbs could yield temporary price discounts on diesel initially, but those short-term price reductions would likely fade swiftly.

Though largely symbolic, the vote was viewed as an opportunity for vulnerable Republicans to distance themselves from the war ahead of the midterm elections.

As war in Iran, Russia and Ukraine squeezes diesel supply, the Trump administration is mulling ways to tame prices ahead of the November midterm elections.

Officials and industry leaders warned export restrictions could provide brief relief but risk higher fuel costs, reduced refinery output and broader economic fallout.

Although regular gas prices usually get more attention, diesel has swiftly become a hot issue on the campaign trail.

A U.S. ban on diesel exports could rapidly fill domestic storage, depress the fuel’s prices and ultimately shrink gasoline supply while pushing up costs at the pump.

As prices have risen, more Republicans have embraced the idea of a diesel export ban or even price controls. 

With flows from the region’s top supplier at risk, European diesel’s premium to Brent crude jumped to more than $95 a barrel on Sept. 23, a record in Bloomberg data going back to 2011.

Oil and gas executives have cautioned against it, warning that any restriction on U.S. crude and fuel exports would provide only short-term relief before ultimately backfiring.