Trump is considering limiting diesel exports, while the EU warns that the plan would affect both sides

President Donald Trump is considering limiting diesel exports from the United States for a period of 90 days, in an attempt to reduce fuel prices ahead of the midterm elections, scheduled for November 3. The average price of diesel in the US has reached a record $6.52 per gallon.

Trump said he had asked administration officials to examine halting exports, amid price increases fueled by the conflict in the Middle East and dissatisfaction among American voters.

The European Union criticized the plan, calling it “a bad idea” that could affect both the European market and the US economy. The European Commission warned that the US supplied approximately 50% of the bloc’s diesel imports in August, at a time when prices in the EU reached a record €2.23 per liter.

US Energy Secretary Chris Wright later said that the administration was not preparing a total ban, but possible voluntary restrictions on exports. The oil industry opposes the measure and warns that it could drive up domestic diesel and gasoline prices and raise competition concerns.