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Trump backs potential diesel export ban as US prices hit record highs
AAA data show US national average diesel prices topped $6.50 a gallon Tuesday, driven by constrained global oil supplies.
US President Donald Trump said he would support proposals to halt US diesel exports to ease prices for drivers, pointing to the potential to keep more domestic diesel supply from leaving the country. Speaking on the sidelines of the United Nations General Assembly, Trump suggested that higher domestic diesel availability could also help lower broader petrol prices, after record diesel costs added political pressure ahead of November mid-term elections.
Republican lawmakers have been urging the administration to restrict diesel exports as diesel prices have soared to new highs. National average diesel prices surpassed $6.50 a gallon on Tuesday, according to American Automobile Association data, and the conflict in the Middle East has constrained global oil supplies, contributing to pump price pressure.
US Treasury Secretary Scott Bessent said officials are assessing whether a full or partial export ban could work without disrupting refinery capabilities. In Alaska, Senator Dan Sullivan also called for a temporary pause of American diesel and exports to rebuild domestic reserves.
The wider diesel market squeeze is also linked to reduced refining capacity in Ukraine after it targeted Russian energy facilities, with Trump calling the hit a serious blow for both Russia and diesel prices. With Russia a leading diesel supplier and facing strict export bans and reduced capacity elsewhere, the resulting tightening has left global reserves severely squeezed, Trump said he would discuss the strikes with Ukrainian President Volodymyr Zelensky.