Goldman Sachs said on the 2nd that if the United States bans diesel exports, Latin America would be the region most affected. According to the report, imports from the United States account for more than 50% of consumption in Ecuador, Chile, Mexico and Peru, and a sudden halt in US supply could shave about 1% off Latin America's gross domestic product. However, drawing down inventories and increased exports from outside the United States would soften the impact. Goldman estimates that if the United States bans diesel exports, US retail diesel prices would fall by 0.25 dollars per gallon for each week the ban lasts, and after one month the measure would be expected to push down overall US inflation by 2 to 3 basis points. US President Trump said on September 30 that he is discussing a diesel export ban "every day," and the US administration is moving quickly to curb surging energy prices. According to three people familiar with the discussions, the Trump administration has asked Germany and France to release emergency diesel reserves to ease the global surge in fuel prices, warning that the United States could ban diesel exports if they refuse.
Goldman Sachs Group IncGoldman Sachs is the author of the analysis on a potential US diesel export ban, not a subject affected by it.
A US diesel export ban would curb global diesel/heating oil supply, supporting heating oil futures prices.
