Trump Considers Diesel Export Ban Amid Rising Fuel Prices

The Trump administration is considering a ban on diesel exports due to rising fuel prices affecting American agriculture and trucking. President Trump expressed his support for the measure during a meeting with Ukrainian President Volodymyr Zelensky at the United Nations General Assembly.

Trump stated, “I’ve called for that, too. Let’s not send out the diesel. We make a lot of diesel.” He emphasized his discussions with his team on this issue and urged Treasury Secretary Scott Bessent to elaborate. Bessent confirmed they are assessing its feasibility concerning refining capacity and potential effects of a full or partial ban.

Over the weekend, Republican lawmakers from agriculture-heavy states like Iowa backed the idea as diesel prices reached record levels. However, GOP members from oil-producing states criticized it as “a gimmick.” Diesel prices have surged, with the cost reaching $6.51 per gallon, particularly impacting states with higher prices.

The rise in fuel costs is partly due to geopolitical tensions, including the U.S.-Iran and Russia-Ukraine conflicts, which may lead to increased heating costs in the Northeast this winter. Senate Republicans are debating a proposal supported by Sen. Chuck Grassley (Iowa) aiming to embargo diesel exports, reminiscent of actions during the 1970s energy crisis.

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