From the Guardian · Guardian staff and agencies · · 1m 30s
Trump backs diesel export ban as prices hit record highs
Donald Trump supports blocking US diesel exports to fight soaring energy costs, but industry warns the plan could backfire and raise gas prices instead.
In brief
Donald Trump supports blocking US diesel exports to fight soaring energy costs, but industry warns the plan could backfire and raise gas prices instead. Trump endorsed a diesel export ban to address record-high fuel prices, though refiners argue it would reduce overall production and increase gasoline costs…
Trump backs diesel export ban
Donald Trump said Tuesday he supports banning US diesel exports to help curb soaring energy costs, calling it a way to keep more fuel domestic.
“I've said let's not send out the diesel. We make a lot of diesel.”
Diesel prices hit record highs
US diesel reached $6.53 per gallon on Tuesday, the highest average ever recorded and 75% higher than a year ago, driven by wars cutting exports from major producers.
Treasury examines ban feasibility
US Treasury Secretary Scott Bessent said the administration is studying whether a full or partial diesel export ban is practical given refining capacity constraints.
“We're examining whether it's feasible in terms of the overall refining capacity.”
Republicans push for quick action
Some Republican Senate candidates in competitive races are calling for the export ban to provide relief from high prices, with Iowa's Ashley Hinson citing pump and grocery costs.
“Iowans are being squeezed and shouldn't have to foot the bill at the pump.”
Industry warns of backfire risk
The American Fuel and Petrochemical Manufacturers trade group says an export ban would force refiners to cut production, reducing both diesel and gasoline output and raising overall prices.
“An export ban would backfire, producing less diesel also means producing less gasoline.”
Trump urges caution on Russian targets
Trump told Ukrainian President Zelenskyy to pause strikes on Russian oil refineries, warning that further damage could push diesel prices even higher globally.
“It's a serious hit on the Russians. It's also a serious hit on the price of diesel.”
The one thing
Trump endorsed a diesel export ban to address record-high fuel prices, though refiners argue it would reduce overall production and increase gasoline costs.
