White House: There Are Things We Can Do to Lower Gas, Diesel Prices, ‘More to Come’ ‘Next Week’

[mystery-ak]

White House: There Are Things We Can Do to Lower Gas, Diesel Prices, ‘More to Come’ ‘Next Week’

Ian Hanchett 2 Oct 2026

On Friday’s broadcast of the Fox News Channel’s “America’s Newsroom,” White House National Economic Council Director Kevin Hassett said that there are “domestic policy things we could do to lower the price of gasoline, lower the price of diesel, and there’s a lot more to come on that next week.”

Hassett said, “Real relief on gas prices is coming, virtually immediately, because what’s happened is that the Navy has opened up the straits. The crude oil that’s coming through the straits is basically everything that was coming before, except for Iranian oil, which is putting an enormous amount of pressure on Iran. And, meanwhile, President Trump is negotiating with other world leaders to release more refined product from, for example, the European reserves. All of that news is happening, really, in real-time, and so there’s definitely relief coming on the way.”

He continued, “But there [are] other things we could do, domestic policy things we could do to lower the price of gasoline, lower the price of diesel, and there’s a lot more to come on that next week. The president has some really interesting announcements.”

more
https://www.breitbart.com/clips/2026/10/02/white-house-there-are-things-we-can-do-to-lower-gas-diesel-prices-more-to-come-next-week/

[IsailedawayfromFR]

Stay tuned......

[IsailedawayfromFR]

Maybe send this to the WH:

Three Easy Ways to Reduce Pain at the Pump
Stephen Moore | October 03, 2026

        I've always argued that the easiest way for families to gauge the health of the economy is to check the daily gas price. Drivers see the 50-foot-high signs in every community in America. They stare us right in the face.

        I call it the affordability index.

        In recent weeks, gas prices have hit $4.50 a gallon nationally, and truckers are paying well over $6 a gallon.

        That's a bad look with a month to go before midterm elections across the country. These high prices have put consumers in a bad mood.

        It's worth mentioning that the average gas price while Donald Trump has been president is lower than the average price under former Presidents Barack Obama and Joe Biden. But when it comes to affordability, voters ask: What have you done for me lately?

        Why aren't Republicans in Congress doing anything about it? They could reduce gas and diesel prices by well over 50 cents a gallon through three easy reforms.

        I checked with the experts at the Institute for Energy Research on a plan to lower gas prices, and here's the plan that would repeal the excessive regulation and taxation of gas and diesel.

        Step 1. Immediately suspend the renewable energy and ethanol blending requirements at refineries. That saves 31 cents a gallon. There's no reason we should have to put corn in our gas tank.

        Step 2. Temporarily suspend the 18-cents-a-gallon gas tax and the 24-cents-a-gallon diesel tax. When the gas price falls below $3.50 a gallon, the taxes can be reimposed.

        Step 3. Permanently repeal the Jones Act, which makes the shipping costs of oil and diesel more expensive by at least 5 cents a gallon.

        Add up the savings and we've just lowered gas and diesel prices by more than 50 cents a gallon.

        Wait -- there's more the politicians can do. State gas taxes also add an average of about 33 cents a gallon. State legislators should slash those taxes until the gas price falls when the Middle East supply chains are unclogged. https://hotair.com/stephen-moore/2026/10/03/three-easy-ways-to-reduce-pain-at-the-pump-n3819571

[IsailedawayfromFR]

September 18, 2026
What goes into diesel prices?
Weekly average U.S. retail diesel price (Jan 1, 2007-Sep 14, 2026)

Data source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update
The price of distillate fuel oil, often sold as diesel, is driven by the price of crude oil, retail margins, distribution costs, taxes, and crack spreads, the indicator we use for refining margins. Tight global supplies of distillate fuel oil and elevated crude oil prices have driven prices higher in recent months.

Crack spreads are indicators of the profitability of refining crude oil into petroleum products such as gasoline and diesel and are used as a proxy for refinery margins. We calculate the diesel crack spread by subtracting the spot market price of a gallon of crude oil from the wholesale price of a gallon of diesel. The high crack spread for diesel on top of the elevated price of a barrel of crude oil has driven retail prices up. High diesel prices can contribute to higher on-road and rail freight costs for all goods. The fuel also has significant seasonal uses in agriculture and home heating in the northeastern United States.

Note: Refinery margin is calculated as the difference between the price of a gallon of wholesale diesel at New York Harbor and the spot market price of a gallon of Brent crude oil. Retail, distribution, and taxes captures retail margins, distribution costs, and federal and state taxes; it is calculated as the difference between the U.S. average diesel retail price and the wholesale diesel price at New York Harbor. Crude oil reflects the spot market price of a gallon of Brent crude oil.
As of Monday, September 14, U.S. retail diesel prices averaged $6.29 per gallon (gal), according to our weekly Gasoline and Diesel Fuel Update. On an inflation-adjusted basis, this is the highest price since 2022, and the number is the highest on record in nominal price terms since EIA started publishing this series in 1994.

What's driving global distillate prices?

Global distillate fuel (including diesel) supplies are tight because of reduced global refining activity in Russia, China, and the Middle East. Reduced distillate production abroad has caused international prices to increase, driving up both the cost to import diesel to the United States and increasing demand for diesel exports from the United States.

What’s happening to supply in the United States?

U.S. distillate production between January and August of this year averaged 5.1 million barrels per day (b/d), the most since 2019. Refineries in the United States are also running at near-maximum levels with utilization of 97% the week ending September 11, according to our Weekly Petroleum Status Report.

Because of import and export dynamics, distillate net exports from the United States have remained near or above the previous five-year (2021–2025) high since February. As U.S. net exports increased, particularly during March and April, U.S. distillate inventories declined. Although distillate inventories typically build in the summer months, inventories have remained relatively flat this year. In the week ending September 11, U.S. distillate inventories were 15.8 million barrels, or 13%, below the five-year (2021–2025) seasonal average. Low distillate inventories have driven refining margins up.

[Fishrrman]

What I believe should be done can be found here:
https://www.gopbriefingroom.com/index.php?topic=588881.msg3354941#msg3354941