Trump backs US diesel export ban to ease high prices
US President Donald Trump supports halting diesel exports to lower record pump prices ahead of the critical mid-term elections on November 3.
Stock photo for illustration only, not from the actual event
- Donald Trump backs proposals to halt US diesel exports to ease domestic pump prices.
- National average diesel prices in the US surged to a record high above $6.50 per gallon.
- The United States exports roughly 1.3 million barrels of diesel per day.
- An export ban could strain energy supplies for Western allies including the UK and Netherlands.
US President Donald Trump has stated his backing for proposals aimed at halting American diesel exports, a move designed to alleviate the financial burden on drivers facing soaring fuel costs at service stations.
His remarks follow intense pressure from Republican lawmakers urging the president to restrict exports ahead of the mid-term elections scheduled for November 3, as diesel prices in the United States reach unprecedented record highs.
Speaking on the sidelines of the United Nations General Assembly, Trump suggested that keeping domestic supplies within the US could also help moderate broader petrol prices. Meanwhile, US Treasury Secretary Scott Bessent confirmed that officials are actively evaluating whether a full or partial ban would be effective without impairing refinery capabilities.
Stock photo for illustration only, not from the actual event
Data from the American Automobile Association showed that national average diesel prices surpassed $6.50, equivalent to about £4.87, per gallon on Tuesday, establishing a new high. The surge is largely driven by conflict in the Middle East which has constrained global oil supplies.
In Alaska on Tuesday, Senator Dan Sullivan similarly advocated for a temporary pause on American diesel exports to rebuild domestic reserves. Compounding global market volatility, ongoing Ukrainian drone strikes targeting Russian energy facilities have severely crippled Moscow's refining capacity and reduced international reserves.
The consideration of a US diesel export ban highlights the delicate balancing act between domestic political pressures and international energy security. Because American shipments fill critical gaps left by sanctions on Russian energy, intervening in these global flows carries profound ripple effects for allied nations relying on US refined products.
While restricting exports may offer immediate relief for American motorists, industry observers note it risks driving up international prices. The US exports approximately 1.3 million barrels of diesel daily, representing nearly a quarter of its refining output, and cutting off these shipments could endanger supplies for Western allies such as the United Kingdom and the Netherlands.
Source: BBC Business
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