SydneyUS diesel hit a record $6.52 a gallon this week.
Trump’s fix would export the US fuel shortage onto import-dependent countries like Australia.
Trump wants to keep the diesel US refineries produce at home, but a ban would cut roughly 18% of global diesel exports.
But economist Lurion De Mello says Australian pump prices track Singapore gas oil, without a single US cargo changing hands.
Treasury Secretary Scott Bessent is investigating the ban’s feasibility ahead of the US midterm elections.
Sources: News.com.au