Bloomberg: Trump administration weighs steps to curb diesel price spike
Bloomberg, citing informed sources, reported that the administration of U.S. President Donald Trump is considering emergency options to contain a surge in diesel prices after shipping disruptions in the Strait of Hormuz and a global rise in oil prices.
According to the report, among the options under discussion are suspending the fuel tax and lifting restrictions on the sale of a tax-exempt type of diesel that is used mostly on difficult routes and by farmers.
Bloomberg also wrote that U.S. Vice President JD Vance has called for measures including a ban on diesel exports. The report said consultations on the issue have also been held with officials from the U.S. Energy, Interior and Treasury departments.
Earlier, Deutsche Welle also reported that the German government was preparing plans to curb rising fuel prices. Under that report, the energy tax, especially on petrol and diesel, is expected to be cut by up to 14 cents per litre.
The same report said that, amid growing tensions in the region, petrol prices in France and Germany have also seen a significant increase. The Strait of Hormuz is considered one of the world’s key energy transit routes, and any disruption to shipping through the passage usually affects the global oil market.
