Trump Says Diesel Export Ban Still Under Serious Consideration

By Staff, Agencies

US President Donald Trump said the White House is still “very seriously” considering a ban on diesel exports as fuel prices surge ahead of the November midterm elections, raising concerns about further tightening global supplies.

Speaking to a Fox News reporter on Sunday, Trump said his administration was examining the measure and “may do it,” while acknowledging that restricting exports could push gasoline prices somewhat higher. He first raised the possibility last week, saying the United States should stop sending diesel abroad.

The proposal comes as US diesel prices have reached record levels. According to the Energy Information Administration, the nationwide average stood at $6.529 per gallon on September 21, up from $5.454 five weeks earlier, as tight global supplies and elevated crude prices drive costs higher.

The global diesel market has been further strained by disruptions to shipping through the Strait of Hormuz amid the US-"Israeli" war on Iran.

Russia, another major diesel exporter, has also restricted fuel shipments to stabilize its domestic market following Ukrainian drone attacks on refineries.

US diesel production is now barely keeping pace with domestic demand, raising concerns that continued exports could place additional pressure on supplies at home. At the same time, cutting US shipments could deepen shortages internationally, particularly in Europe.

The American Petroleum Institute has opposed an export ban, warning that it could force US refineries to reduce production of diesel, gasoline and jet fuel, potentially tightening domestic supplies while worsening the global shortage.

The International Energy Agency said increased exports from the United States and China have partly offset lost supplies from Russia and the Middle East, but warned that diesel shortages could persist unless Russian or Middle Eastern exports recover or demand declines.

Trump has also repeatedly urged Ukrainian President Vladimir Zelensky to halt attacks on Russian refineries, arguing that the strikes are contributing to global diesel shortages.

Europe could be particularly vulnerable to any reduction in US supplies after the EU sharply reduced its reliance on Russian energy, with Russia’s share of European diesel supplies falling from nearly half before the Ukraine conflict to around 5% by 2024.