Trump says he would back ban on diesel exports

US President Donald Trump has stated his support for a ban on American diesel exports, aiming to alleviate driver fuel costs at the pump. This proposal emerged following pressure from Republican lawmakers ahead of the November mid-term elections, as diesel prices have reached record highs in the United States. During a meeting at the United Nations General Assembly, Trump suggested that keeping domestic supplies within the country could also alleviate broader petrol prices, stating, "I’ve called for that too.

I’ve said let’s not send out the diesel. We make a lot of diesel. That could have a little bit of an effect on regular automobile gasoline."

The US Treasury Secretary, Scott Bessent, confirmed that officials are evaluating whether a partial or full ban would function effectively without interrupting refinery operations. The average diesel price nationwide surged past $6.50 (£4.87) per gallon, marking a new high according to the American Automobile Association. The conflict in the Middle East has limited global oil supplies, putting pressure on pump prices.

The escalating cost of diesel has prompted political urgency, with several Republicans urging the administration to restrict the fuel's export to help ease financial strain on voters.

Republican Senator Ashley Hinson, running for Senate in Iowa, stated that the state's consumers were "being squeezed and shouldn’t have to foot the bill at the pump." In Alaska, Senator Dan Sullivan called for a temporary pause in American diesel exports to replenish domestic reserves. Meanwhile, Ukraine's targeting of Russian energy facilities has disrupted the country's refining capacity, causing a significant hit on Russia's energy exports and, consequently, the price of diesel.

Trump confirmed he would discuss the strikes with Ukrainian President Volodymyr Zelensky during a meeting on Tuesday, while also working towards negotiating an end to the conflict. He expressed confidence that "it’s going to happen." The conflict has intensified drone attacks on Russian processing plants to cut off the Kremlin’s main source of war funding. As Russia is one of the world's leading diesel suppliers, reduced refining capacity, coupled with Moscow’s own export bans, has severely drained global reserves.

Restricting US diesel exports could provide short-term relief for American drivers; however, it may also result in higher prices internationally. The US exports approximately 1.3 million barrels of diesel per day, accounting for nearly a quarter of its refining output. Limiting these shipments could strain supplies for Western allies, including the UK and the Netherlands, which have relied on American fuel to cover deficits left by sanctions on Russian energy.