With the fuel crisis looming over the Republican Party's midterm election campaign, President Donald Trump is contemplating whether to impose a diesel export ban.
Trump has been engaged in crisis discussions with his team about potential strategies to manage the fuel crisis. Among the suggested solutions was the restriction of international diesel sales. Administration officials have informed foreign allies, including the U.K., about potential disruptions to their supplies, the Financial Times reported on Tuesday, citing people with knowledge of the matter.
The White House has been working with European allies on a potential ban. Energy Secretary Chris Wright spoke with U.K. officials, while Treasury Secretary Scott Bessent discussed the issue with Reform U.K.'s Robert Jenrick, who urged Washington to avoid a ban or exempt the U.K. The Trump administration has also pressed European countries to release diesel from strategic reserves and discussed urging China to boost refinery production, the report added.
Trump was "evaluating all the options on the table" to bring down domestic fuel prices. However, a final decision on halting exports has not been made yet, according to the report. Tennessee Republican Tim Burchett voiced concerns over the political fallout of the crisis, warning that the GOP could lose its majority due to it, the report noted.
An industry insider privy to the White House debate revealed that an export ban was "absolutely getting pretty close to movement" last week after top Republicans from farming states requested that the Trump administration take action, according to the report.
White House did not immediately respond to MarketDash's request for comments.
