Ryan Bridge: We need to keep an eye on diesel

Trump's getting desperate to fix gas prices ahead of the midterms and usually when he's trying to do something for America, there will be losers and that could well be the rest of us.  

We spoke a few weeks ago about the fact he was looking into a ban on diesel exports. The industry didn't like it – they thought it wouldn't bring prices down. They lobbied the White House and said the idea could actually push prices up.  

Well, Trump's now had advice on it.  

He's also shoulder tapped some allies to let them know what might be about to happen.  

The Brits are worried enough to hold meetings with the Europeans.  

Unlike New Zealand, the UK still refines fuel. But it doesn't refine enough diesel to meet its domestic demand.  

So it imports it. In the past three months, about a quarter of diesel imports came from the US.  

Much more comes from third parties, who in-turn source it from America.  

If supply gets cut, we'd be screwed on price. We, along with Asia and the Aussies, could see shortages.  

Even a partial ban or cap could push prices way higher than the $3.18 average at the pump right now.  

That'll have a big impact on prices, transport, and farms.  

So, here's hoping for our sake, America doesn't come first. 

Just another reminder of the potential economic hits that could be around the corner, and the need for a strong balance sheet in Wellington.