If he introduces ban on diesel export , gasoline will go up as well as food , but diesel will go down. In 90 days you may see a lot of diesel and shortage on gasoline , you may see diesel at 6 and gasoline above 9-10 . It may take another 90 days to reverse to present day , but much longer with food inflation.
@tenente The thing is that insurance of fuel is 10% up of its value , along as longer shipping lanes burning bunker fuel which cost more. Trump and Israel Iran war is the cause and its likely stay this way until spring.
It's the other way round in the UK, with Diesel already around 20 - 30p a litre costlier than petrol.
What's Trump's reason for wanting to stop exports? Genuine risk of the fuel's shortage in the USA, or is he trying to wreck everyone else's economies already damaged by his attacking Iran?
It could rebound on Americans as the oil firms reduce production and increase the wholesale price to compensate for the lost exports and their revenue.
(That silly 0.9c trick is used similarly Over Here, with prices displayed such as £1.65- point-9 /litre. I.e. £1.66 / litre.)
@ArishMell Europe , including UK will buy Chinese diesel and gasoline being Russian as they have capacity to refine it. Russia sells oil at 60 dollars and gets it back at port 80 dollars as diesel or Indian gasoline . India just bought USA bonds for 80 billions per week as you will never get 5,2 on interest in India , argo India needs euro -dollars to exist and they will sell back Russian oil back to others before they will send anything back to Russia and Russian have no choice , In Europe all taxes on fuel will be 0 for at least 7 months.
