White House weighs fuel export limits as prices continue to surge

The Biden administration has time and time again responded to the different issues concerning supply chain and fuel shortages and this is no exception. Administration officials have recently started to talk about capping gasoline and diesel exports.

An export ban can conflict with a few different things, starting with all the ways the U.S. is helping to ensure European allies have sufficient energy supplies with the war in Ukraine. These restrictions can cause issues with allies when sending supplies overseas. As reported by Transport Topics analysts have said export limits are unlikely to lower the price of gasoline in the long run…Energy Secretary Jennifer Granholm is set to meet with oil refineries June 23 on the issue. Biden directed Granholm to hold the session and U.S. oil companies to provide her with ‘concrete ideas that would address the immediate inventory, price and refining capacity issues’”. With hopes of these conversations turning into tangible actions, we’ll make sure to report on anything new!