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A diesel export ban would guarantee higher prices

A diesel export ban would guarantee higher prices

Also reported by CBS News

Summary

Some Republican lawmakers have thought about banning diesel exports to lower fuel prices. However, experts say this ban could reduce the supply of diesel in the country and make prices go up by discouraging companies from refining fuel.

Key Facts

  • Some Republicans have proposed banning diesel exports.
  • The goal is to lower high fuel prices.
  • Critics warn this ban would reduce the amount of diesel available inside the U.S.
  • Lower domestic supply could push diesel prices higher.
  • The ban might discourage refiners from producing more fuel.
  • Refining capacity means the ability to process crude oil into usable fuels like diesel.
  • Reducing refining capacity could harm the overall fuel market in the U.S.
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