Amid soaring diesel prices in the United States, President Donald Trump has endorsed the idea of restricting or banning diesel exports to help ease domestic energy costs. The suggestion comes as diesel prices hit a record average of $6.53 per gallon, driven by disruptions in global fuel supplies due to ongoing conflicts in Iran and Ukraine.
During discussions with Ukrainian President Volodymyr Zelenskyy, Trump emphasized the United States’ substantial diesel production capacity, suggesting that more of the fuel should remain within the country. Treasury Secretary Scott Bessent noted that the administration is currently evaluating the feasibility of imposing a full or partial ban on diesel exports, considering the nation’s refining capabilities.
The proposal for export restrictions has sparked debate, with the American Fuel and Petrochemical Manufacturers trade group warning of potential unintended repercussions. The group cautioned that curtailing exports could lead to a reduction in production by U.S. refiners, which might lower the availability of diesel and gasoline domestically.
Adding to the complexity of the situation, Trump expressed concerns about Ukrainian military actions targeting Russian oil refineries. He noted that further damage to these facilities could exacerbate the already high diesel prices by causing additional strain on refining infrastructure.
As the administration continues to assess the situation, the ongoing high energy costs remain a critical concern, balancing the need to stabilize domestic markets with the potential impacts on international trade and fuel supply chains.