00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump said Sunday that the White House is seriously considering a diesel export ban
00:07as record fuel prices add pressure ahead of the November midterm elections, according to CNBC.
00:14Trump said the measure could also raise gasoline prices,
00:17and that officials are weighing whether to move forward.
00:21Energy Secretary Chris Wright has said the administration is considering restrictions
00:25rather than an outright ban, while Politico reported a 90-day ban is being prepared.
00:31U.S. diesel averaged about $6.50 a gallon on Friday, near the September 22nd record of $6.53.
00:38Energy industry groups oppose restrictions, warning they could worsen refining challenges.
00:44Morgan Stanley said U.S. diesel export restrictions could initially lower domestic diesel prices,
00:49but raise global diesel costs and eventually push U.S. gasoline prices higher.
00:53For all things money, visit Benzinga.com.
