00:00Trump wants to stop American diesel from leaving the country,
00:03but his own energy secretary says doing so would raise prices even higher.
00:07Here's what's happening.
00:08Diesel just hit a record $6.53 a gallon,
00:11so Senator Chuck Grassley and other Republicans from farm states
00:14pitched banning diesel exports.
00:17Energy Secretary Chris Wright says that would make gas pricier right away.
00:21You see, every barrel of crude oil gets split into gas, diesel, and jet fuel at the same time.
00:26Refineries can't just make the one that you want.
00:28So if you account for all the gas Americans use daily,
00:31the refineries trade group says that leaves about 1.5 million extra barrels a day,
00:35and that extra gets sold overseas.
00:38Bloomberg reports that analysts expect a ban to cut diesel prices at first,
00:42but if refineries can't sell their extra diesel,
00:44there's a limit to how much they can stockpile.
00:47When the tanks fill up, they have to slow down,
00:49which means less gasoline and jet fuel, which then means higher prices.
00:53The White House said last Wednesday it isn't preparing a ban,
00:56but Sunday at a golf tournament, Trump said he's very seriously considering a ban
01:00and that it can oftentimes lead to a little bit of an increase in gasoline for cars.
01:05So are you comfortable paying even more at the pump to bring diesel prices down?
01:09Drop your take in the comments and follow us here for more.
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