US Diesel Export Ban Proposal Risks Fuel Price Spike, Refinery Cuts

US legislators are considering a ban on diesel exports to curb record pump prices, but analysts warn this could backfire by creating a domestic glut, forcing refinery run cuts, and ultimately raising all fuel prices. The proposal follows US retail diesel hitting an all-time high above $6.50/gallon amid a global supply crunch, with exports notably flowing to Europe. The outcome is uncertain as the ban is only under discussion, but it could disrupt global diesel supply and US refining economics.