Europe warns about the consequences of the U.S. diesel export ban
The European Commission has asked Washington to consult with European partners before making any decision on limiting diesel exports. Commission spokesperson Olof Gill said that disruptions in energy trade could harm the fuel market and the economy on both sides of the Atlantic. He added that the U.S. has not yet made a final decision.
According to the European Commission, the U.S. supplied about half of the European Union’s diesel imports in August, but there is currently no specific shortage in the union.
The Trump administration is considering a 90-day ban on diesel exports to lower fuel prices within the U.S. However, some producers and analysts have warned that this restriction might reduce refinery activities and ultimately increase the prices of gasoline and other petroleum products.