On Tuesday, Donald Trump expressed support for a proposed ban on diesel exports amid rising energy costs driven by international conflicts, particularly in Iran and Ukraine. Diesel prices have surged to record highs, with US average prices reaching $6.53 per gallon, a significant increase over the past year.
Trump stated, “I’ve said let’s not send out the diesel. We make a lot of diesel … I’ve called for it. I’ve called for it within my people,” during a meeting with Ukrainian President Volodymyr Zelenskyy.
U.S. Treasury Secretary Scott Bessent mentioned that the feasibility of such a ban is being examined concerning the overall refining capacity. Meanwhile, some Republican Senate candidates have pushed for this ban to help alleviate financial pressures on Americans linked to rising prices due to geopolitical tensions.
The American Fuel and Petrochemical Manufacturers trade group warned that an export ban could backfire by reducing domestic production, which would also impact gasoline supplies. Trump indicated that he and Zelenskyy would discuss Ukraine’s strikes on Russian refining sites, seeing it as an effective tactic that influences diesel prices.
