US President Donald Trump has expressed support for proposals to halt American diesel exports to alleviate prices for consumers at gas stations. His remarks followed pressure from Republican lawmakers ahead of the mid-term elections in November, as diesel prices in the US reached record highs.
During an event at the United Nations General Assembly, Trump suggested that retaining domestic diesel supplies could also help reduce overall petrol prices. "I've called for that too. I've said let's not send out the diesel. We make a lot of diesel. That could have a little bit of an effect on regular automobile gasoline," he stated.
US Treasury Secretary Scott Bessent confirmed that officials are evaluating the feasibility of a full or partial ban on diesel exports without disrupting refinery operations. According to data from the American Automobile Association, the national average diesel price exceeded $6.50 (£4.87) per gallon on Tuesday, marking a new high.
The ongoing conflict in the Middle East has impacted global oil supplies, contributing to rising fuel prices. The increase in diesel costs has prompted political urgency as the mid-term elections approach, with several Republican representatives advocating for restrictions on diesel exports to alleviate financial burdens on voters.
US Representative Ashley Hinson, a Republican candidate for Senate in Iowa, stated on Monday that consumers in her state are "being squeezed and shouldn't have to foot the bill at the pump."
Senator Dan Sullivan from Alaska also called for a "temporary pause of American diesel and exports" to rebuild domestic reserves. Additionally, Ukraine's attacks on Russian energy facilities have disrupted Russia's refining capacity, further affecting global market stability.
Trump remarked during a meeting with Ukrainian President Volodymyr Zelensky that the situation represents a significant challenge for Russia, stating, "It's also a serious hit on the price of diesel."
He confirmed plans to discuss the strikes with Zelensky, along with broader negotiations to resolve the conflict. Kyiv has increased drone strikes on Russian processing plants in recent months to undermine the Kremlin's funding sources for the war.
As Russia is a major diesel supplier, the reduction in its refining capacity, coupled with its own export restrictions, has tightened global reserves. While limiting US diesel exports may provide short-term relief for American drivers, it could also lead to increased prices internationally.
The US currently exports approximately 1.3 million barrels of diesel per day, which accounts for nearly a quarter of its refining output. Reducing these exports could impact supply for Western allies, including the UK and the Netherlands, which depend on American fuel to compensate for deficits caused by sanctions on Russian energy.