The EU Expresses Concern Over Possible US Ban on Diesel Exports

The European Union has expressed concern over a possible US ban on diesel exports, stating that such a decision could have negative consequences for both parties. According to European Commission spokesperson Olof Gill, high-level talks are underway between EU and US administrations on the issue.

"We expect close partners to consult with one another before adopting measures that affect shared markets," Gill told reporters.

The European Commission's statement came after Politico reported that the US was preparing a 90-day ban on diesel exports. According to the publication, the goal of the potential measure is to ease pressure on fuel prices within the country.

However, US Energy Secretary Chris Wright denied this information. According to him, a complete ban on diesel exports is not under consideration, and such a measure could backfire. Wright said the administration is working with refining companies to increase diesel supply in the US market.

Diesel prices in the US have recently risen close to record levels. According to Reuters, the average price per gallon on September 23 was $6.52, approximately 76% higher than the same period last year. The rise in fuel prices has been driven by the wars in Iran and Ukraine, which have increased pressure on global oil and petroleum product supplies.

Restricting diesel exports could also affect the international market. According to Reuters estimates, an export ban would push up diesel prices in Europe, while fuel prices in the US could decrease. At the same time, American analysts have warned that export restrictions could force refining companies to cut production, which would put additional pressure on gasoline and jet fuel prices.

The European Commission states that any significant disruption to diesel supply would negatively affect both sides of the Atlantic. The EU is currently also considering possible measures to reduce its dependence on US diesel, although no specific decision has yet been made.