Trump supports diesel export ban amid rising fuel prices
President Donald Trump said he backs a ban on diesel exports as fuel costs climb, while industry groups warn the measure could raise gasoline prices.
President Donald Trump said on Tuesday that he supports a ban on diesel exports, arguing that the United States should retain more of its domestic supply as fuel prices rise. He told reporters ahead of a meeting with Ukrainian President Volodymyr Zelenskyy, "I’ve said let’s not send out the diesel. We make a lot of diesel… I’ve called for it within my people."
U.S. Treasury Secretary Scott Bessent said officials are reviewing whether a full or partial ban would be feasible given refining capacity. The discussion comes as diesel prices have reached a record average of $6.53 per gallon in the United States, more than 75% higher than a year earlier, driven in part by disruptions from conflicts in Iran and Ukraine.
Republican Senate candidates in competitive midterm races have also urged the administration to act, with Representative Ashley Hinson of Iowa writing that voters should not bear the cost of the war in Iran at the pump.
The American Fuel and Petrochemical Manufacturers trade group warned that an export ban could backfire, stating that reduced diesel production would also lower gasoline output and potentially raise gasoline prices.
Trump indicated that he and Zelenskyy would discuss Ukrainian strikes on Russian oil refineries, noting that such actions affect both Russian revenues and diesel prices. He added that a solution to the war in Ukraine is forthcoming.
"We’re examining whether it’s feasible in terms of the overall refining capacity and whether a full or partial ban would work," Treasury Secretary Scott Bessent said.
"It is a serious hit on the Russians. It’s also a serious hit on the price of diesel," Trump said.
Reuters contributed reporting.