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Trump Weighs Defense Production Act for Oil Refining Expansion

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Story summary
  • President Donald Trump is weighing invoking the Defense Production Act to expand U.S. oil refining.
  • He met with about a dozen U.S. refiners to discuss federal aid.
  • National diesel price topped $6 per gallon for the first time, driving gasoline prices higher.
  • Refinery utilization sits at 98%, showing plants run near full capacity.
  • Executives said federal funds would better improve efficiency or expand existing plants than fund a new refinery.