Trump Asks Xi for China's Help Lowering Gas, Diesel Prices

President Donald Trump has urged Chinese President Xi Jinping to increase China's production of certain petroleum products to help lower gas and diesel prices in the United States ahead of the crucial midterm elections. This request came during Xi's first state visit to American soil in over a decade. Global energy markets have been volatile due to the ongoing Iran war, which began with U.S. and Israeli strikes on Tehran in February.

Iran's control over the Strait of Hormuz, a key global oil and gas corridor, has disrupted supplies. Despite ongoing negotiations, a peace agreement remains elusive. House Foreign Affairs Committee Chairman Brian Mast suggested that securing China's help in stopping the arming of Iran could significantly impact affordable fuel prices, particularly at the pump in the United States.

Russia, another major energy exporter, is also restrained by Western sanctions due to its 2022 invasion of Ukraine, which has cut diesel production by nearly 30 percent. China, being a significant producer of refined oil products, has restricted its exports of gasoline and diesel to secure its domestic inventories. Beijing had amassed nearly 1.4 billion barrels of oil in reserves by the end of 2025.

Some experts believe that China could increase its exports of refined oil products, which could alleviate supply concerns and soften price hikes. Diesel prices in the U.S. have surged to nearly $6.50 a gallon, causing hardship for many households, farmers, truckers, and construction businesses. Gasoline prices have also risen but not to the same extent, sitting at almost $4.49 a gallon.

The White House has proposed a 90-day export ban on diesel, but this idea was dismissed by the outlet as a "fake news story."