Trump administration examines diesel ban

Treasury Secretary Scott Bessent said Tuesday the Trump administration is considering a full or partial ban on diesel exports to address record high fuel prices.

“We're examining whether it's feasible in terms of the overall refining capacity and whether a full or partial ban would work.”

Trump backs the export ban idea

President Trump told reporters he has advocated for a diesel export ban during internal administration deliberations and said a decision would be made quickly.

“I've said let's not send out the diesel. We make a lot of diesel.”

Diesel prices hit record levels

Diesel in the U.S. has surged to a record high of six dollars fifty three cents per gallon, almost three dollars above last year's level. In California, diesel costs eight dollars forty four cents per gallon.

Global conflicts shrink fuel supply

Fuel prices have jumped as wars in Eastern Europe and the Middle East have slashed global refining capacity. Ukraine's attacks on Russian refineries forced Moscow to implement its own diesel export ban.

Oil industry warns against the ban

The American Petroleum Institute warned that restricting U.S. energy exports would compound refining challenges and hurt consumers. CEO Mike Sommers said the answer is more supply and flexibility, not new restrictions.

“Restricting U.S. energy exports would only compound the problem, exacerbating refining challenges and ultimately hurting consumers.”

Why diesel matters to the economy

Diesel fuels trucks and trains that deliver goods and farm equipment that harvests crops. Higher diesel prices trickle down to consumers in higher grocery bills and what they pay for consumer products.