U.S. President Donald Trump has met with his advisers to discuss whether to impose a diesel exports ban in an effort to curb prices, Financial Times reported on Wednesday.
U.S. officials had briefed foreign allies about possible diesel supply disruptions, according to the report.
Trump is currently weighing all options to lower domestic fuel prices, but no decision has yet been made on whether to suspend exports, a White House official said.
On Wednesday, the Russian government announced it has extended the ban on diesel exports for fuel producers until Oct 31, citing regional conflicts and supply shortages that continue to rattle global energy markets.
According to the press service of the Russian Cabinet of Ministers, the decision was taken to stabilize the domestic fuel market, particularly in light of the elevated demand for motor fuel during the harvest season.
Russia has faced tight fuel supplies in many areas since late May this year, leading to rising prices, purchase limits at gas stations and long queues. In response, the authorities have imposed several temporary export restrictions starting July 8, covering gasoline, diesel, marine fuel and gas oil.
Driven by the conflict in the Middle East and a protracted Russia-Ukraine war, fuel supply shortages and soaring prices have become a global challenge.
In the United States, average diesel prices have hovered around 6.50 dollars per gallon.
In the UK, average diesel prices have reached a record high of 199.19 pence (approximately 2.65 U.S. dollars) per liter, the RAC Fuel Watch reported on Monday.
President Trump discusses diesel exports ban, hopes to curb prices
President Trump discusses diesel exports ban, hopes to curb prices
A patriotically-named builder has spent more than a decade at the helm of a key construction project in Beijing, helping transform the former Shougang steelworks into a modern urban landmark which has gained global attention for hosting international trade fairs and even the Winter Olympics.
Zhang Guoqing, a project manager at the Shougang Construction company whose given name literally means "National Day" in Chinese, shared his story as the country celebrates the 77th anniversary of the founding of the People's Republic of China on Thursday.
One of the defining projects of the veteran builder's career has been working on the large-scale renovation of the former industrial site in the west of the Chinese capital.
When Zhang returned to the Shougang steelworks in 2015, the sprawling plant had been silent for more than four years, with its once sizzling furnaces going cold ever since steel production was relocated out of Beijing.
"The site still looked much as it had when the steel plant was running. But the windows were broken, the plaster was peeling, and abandoned equipment was covered in dust. Weeds had grown outside. There was no one around," Zhang recalled.
In the years that followed, the former steelworks has been gradually reshaped into the bustling new Shougang Park, retaining its rustic feel but with a modern makeover that has reinvigorated the whole area. Zhang has played a key role in this transformation as the site has become a much-sought after destination for major events, exhibitions, and even providing a unique sporting arena for an Olympic Games.
His projects have ranged from the stunning ski jump built for the 2022 Beijing Winter Olympics to the permanent venue for the China International Fair for Trade in Services (CIFIT), an annual event which gathers 100,000 businesspeople at the Shougang Park.
Back when the work started, there were few precedents for repurposing aging industrial structures on such a large scale. Zhang and his team had to develop new approaches along the way to handle this mammoth undertaking.
"When we renovated Blast Furnace No. 3, some of its components were badly corroded. We treated their surfaces to form a stable protective rust layer. That made them more durable while preserving as much of the furnace's original industrial appearance as possible," he said.
Today, the former steelworks has become a distinctive landmark in the city, with its industrial history preserved and providing a unique backdrop which draws visitors for exhibitions and international events.
"This is Blast Furnace No. 4. After the renovation, it became Hall 1 of the permanent venue for the China International Fair for Trade in Services. Look at this furnace shell. We gave it special treatment using a new coating technique to achieve this color and texture, while keeping it looking much as it did before," said Zhang.
The site holds many dear memories for Zhang, who cherishes every individual project and wants each one to stand the test of time. His commitment and dedication has meant long days on site and years of hard but rewarding work.
The Shougang Park project is seen by many as a metaphor for China's wider development, as it moves from the heavy industry of the past into a more modern and vibrant future.
Zhang is one of the many who has witnessed China's transformation and has left his own mark on its progress through his work.
He acknowledges there has always been a sense of patriotic pride through the name of 'Guoqing' or "National Day" given to him by his parents, which has spurred him on to the success.
"Since I was a child, I've wanted to become an industrial worker and contribute to the country's development. This name [given to me] has always encouraged me to keep moving forward," he said.
Patriotically-named builder helps transform former steelworks site into modern day landmark
