Republicans Weigh 90-Day Diesel Export Ban as $6.52 Prices Stoke Midterm Risk
Updated
Updated · The Washington Post · Sep 24
Republicans Weigh 90-Day Diesel Export Ban as $6.52 Prices Stoke Midterm Risk
3 articles · Updated · The Washington Post · Sep 24
Summary
Republicans have rallied around a possible 90-day diesel export ban as they search for a response to record fuel prices tied to the Iran war.
1.4 million barrels a day of U.S. distillate exports now flow mainly to Latin America and Europe, and analysts say cutting them could briefly ease domestic prices before pushing refinery output lower and costs back up.
S&P Global's Debnil Chowdhury said any relief would be "very, very temporary" and warned the move could also raise gasoline prices for U.S. consumers.
John Thune said the Senate is open to any "viable solution," underscoring how the proposal has gained traction even as experts argue it would hurt allies abroad and offer only a short-term political salve.