Trump Supports Possible Diesel Export Ban as Prices Hit Record Levels

President Donald Trump said this week that he supports banning U.S. diesel exports as domestic fuel prices reach record levels.

A diesel fuel pump at a U.S. service station. Diesel prices have reached record levels amid disruptions to global refining and fuel supplies.

“I've said let's not send out the diesel,” Trump told reporters on the sidelines of the United Nations General Assembly.

He said he had discussed the proposal with members of his administration.

Treasury Secretary Scott Bessent said the administration was examining whether an export ban would be feasible, taking into account U.S. refining capacity and whether a full or partial restriction would work.

The national average price of diesel reached about $6.52 a gallon, according to AAA, up roughly 77% from a year earlier.

The price surge has been driven by a combination of global supply disruptions and reduced refining capacity, with the wars involving Iran and Ukraine contributing to market uncertainty.

Diesel is widely used by trucks, agricultural equipment, construction machinery and other parts of the transportation and industrial economy.

Analysts have warned that an export ban could have unintended consequences.

A Reuters analysis said restricting U.S. diesel exports could do little to resolve the global supply shortage and could worsen disruptions in international fuel markets.

FreightWaves reported that the United States exported an average of about 1.267 million barrels per day of ultra-low-sulfur diesel in 2025, with exports averaging about 1.566 million barrels per day since the Iran war began.

Energy analyst Garrett Golding of the Dallas Federal Reserve has argued that an export ban could put downward pressure on diesel prices in the Gulf Coast while increasing prices in regions that depend more heavily on imports.

He also warned that reduced export markets could cause refiners to cut operating rates, potentially reducing production of diesel and other refined products.

Patrick De Haan of GasBuddy similarly argued that U.S. diesel prices are influenced by global supply and demand, making a domestic export restriction an uncertain tool for lowering prices.