The administration of President Donald Trump is preparing a 90-day ban on diesel exports from the United States to rein in domestic fuel prices, according to Politico, which cited five people familiar with the discussions.
Surging domestic pump prices
The average price of a gallon of diesel in the United States reached $6.52 on Wednesday, according to the pricing data. Domestic fuel costs have risen sharply, climbing by $0.91 over the span of a single month. Over the course of one year, the nationwide average price per gallon has advanced by $2.83. The proposed measure comes seven weeks before the midterm elections.
Diesel prices reached $6.52 a gallon Wednesday.
Global strains and internal debate
The United States operates as the world’s largest diesel exporter, meaning any restriction on outbound shipments would directly alter cross-border trade flows. Global diesel supply has already tightened because of the Middle East war alongside Ukrainian attacks on Russian refineries, leaving international fuel markets with narrower spare capacity to absorb lost barrels.
The export restriction faces opposition from senior administration officials, including Energy Secretary Chris Wright, Treasury Secretary Scott Bessent, and Interior Secretary Doug Burgum, who each argued against a complete export ban during internal deliberations. A White House official dismissed the reporting by Politico as fake news.
Midterm elections take place in seven weeks.
Global diesel supplies remain tight.
Source: Politico
