Trump to Pursue Executive Action to Lower Diesel Prices
Summary
- President Donald Trump is pursuing executive action to lower diesel prices.
- The executive action includes a review of diesel-related taxes by the US Treasury Department and measures to expand access to tax-exempt dyed diesel.
- Trump has excluded an export ban as a measure to lower diesel prices.
Forecast Trend Report by Period
President Donald Trump is moving ahead with executive action aimed at lowering diesel prices. The measures are expected to include a review of some diesel-related taxes and expanded access to tax-exempt dyed diesel.
Walter Bloomberg reported on October 5 that Trump plans to announce the action on October 6, with the goal of bringing down diesel prices.
The executive action is expected to have the US Treasury Department review some diesel-related taxes and broaden access to dyed diesel, which is exempt from certain taxes.
The average US diesel price is $6.32 a gallon, down 13 cents from a week earlier but still $2.63 higher than a year ago.
Trump has ruled out an export ban as a way to lower diesel prices.
JH Kim
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