Trump weighs diesel export ban as US shipments hit weekly record near 2 million barrels a day

  • President Donald Trump is considering a US ban on diesel exports to reduce domestic fuel prices.
  • Diesel exports reached a weekly record near 2 million barrels a day last month.
  • Energy Secretary Chris Wright said refiners are discussing voluntary export curbs as an alternative.

President Donald Trump said he is still seriously considering a US ban on diesel exports to counter high domestic prices, though members of his administration are examining other measures. Diesel exports reached a weekly record near 2 million barrels a day last month as global fuel markets faced disruption from the Strait of Hormuz and Ukrainian attacks on Russian refineries. Farm-state lawmakers have called for limits during the fall harvest, while National Economic Council Director Kevin Hassett, Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer have assessed a possible short-term ban. Oil executives and industry groups instead support suspending the federal diesel excise tax (a government charge on fuel), although officials have debated how to implement that measure while the House of Representatives is in a pre-election recess. Diesel prices averaged about $6.50 a gallon after reaching a record last week, increasing pressure on households ahead of November's midterm elections. Energy Secretary Chris Wright said the administration is also working with refiners on voluntary export restrictions. A ban would be expected to push US diesel prices sharply lower in the short term while leaving allies such as Brazil and the UK needing to find replacement supplies.

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