Trump says he would back ban on diesel exports

US President Donald Trump has indicated he would support a ban on American diesel exports to help alleviate high fuel prices for drivers ahead of November's midterm elections. The proposal emerged after Republican lawmakers applied pressure on the president to curb diesel shipments in response to surging diesel costs. Speaking at the United Nations General Assembly, Trump stated his administration had called for similar measures, adding that keeping domestic supplies within the US could also ease overall petrol prices.

Treasury Secretary Scott Bessent confirmed officials were evaluating whether a complete or partial ban would function without hampering refinery operations. Diesel prices reached a record high of $6.50 (£4.87) per gallon in the US, driven by the conflict in the Middle East, which has restricted global oil supplies, putting pressure on pump prices.

Several Republicans, including Representative Ashley Hinson and Senator Dan Sullivan, have urged the administration to temporarily halt diesel exports to rebuild domestic reserves.

Meanwhile, Ukraine's targeting of Russian energy infrastructure, including refining plants, has significantly impacted global diesel availability. While a ban on US exports could provide short-term relief for American drivers, it may lead to higher prices internationally, as the US exports around 1.3 million barrels of diesel daily, accounting for nearly a quarter of its refining output.

Restricting these shipments could strain supplies for Western allies like the UK and the Netherlands, which depend on American fuel to cover energy deficits resulting from sanctions on Russian energy.