Trump says diesel export ban is still on the table

President Donald Trump said Wednesday he hasn’t yet made up his mind on whether to impose a ban on diesel fuel exports, despite fierce pushback on the idea in recent days from the oil and gas industry and some of his own advisers.

The White House is facing growing pressure to take steps to bring down record high diesel prices ahead of the midterm elections, and Trump indicated last week he would be open to restricting exports. But members of his Cabinet and top industry officials argue that such a move would end up raising prices for all types of fuel, including gasoline, and they have scrambled to present alternative measures to the president.

“I’m thinking about it,” Trump said of the export ban at an Oval Office event. “I speak to [Energy Secretary] Chris [Wright] and [Interior Secretary] Doug [Burgum] about it a lot — they sort of think it’ll help diesel, but it might raise the price of other things.”

Trump said he was optimistic about prices coming down as petroleum flows through the Strait of Hormuz have increased in recent days, but he declined to rule out restricting diesel shipments.

“It’s something that we think about and we talk about every day,” he said. “But it just seems that it would have a negative impact on gasoline, so that would go up a little bit, and diesel would come down a little bit.”

Wright, who has staunchly opposed a ban and was with Trump in the Oval Office on Wednesday, said the administration would soon announce measures aimed at bringing down diesel prices. Europe would also be announcing moves to add supply to the market, he said.

“You will hear announcements from our friends in Europe about new diesel supplies that’ll come to the market that’ll meaningfully push diesel prices down,” Wright said.

POLITICO reported Tuesday that the White House was considering asking European governments to release diesel from their own strategic reserves.