By The Epoch Times | Created at 2026-09-28 16:46:57 | Updated at 2026-09-28 20:19:41
4 hours ago
President Donald Trump said he is looking “very seriously” at moving forward with a ban on diesel exports to counter high prices, blaming Ukrainian attacks on Russian refineries for driving up diesel costs.
“That can oftentimes lead to a little bit of an increase on gasoline for cars, so we’re looking at it very seriously—we may do it,” Trump told Fox News on Sunday when asked whether his administration was considering limiting foreign sales of U.S. diesel.
The prospect of restrictions on U.S. diesel exports was floated recently as prices have soared amid supply disruptions from the wars in Iran and Ukraine.
Several U.S. lawmakers have called on Trump to limit diesel exports, with Sen. John Hoeven (R-N.D.) saying last week that a study was being done by National Economic Council Director Kevin Hassett, Treasury Secretary Scott Bessent, and U.S. Trade Representative Jamieson Greer on the feasibility of such a move.
“The idea is that you get Bessent and Greer and Hassett to do that analysis and if, on a short-term basis—and we are in harvest season right now—it would show that it would help, then it is something we should consider doing,” Hoeven told Bloomberg.
Calls to restrict U.S. diesel exports, including Trump’s earlier tentative support for such a move, have prompted more than 30 U.S. business, energy, and manufacturing groups to urge the administration to reject any diesel export curbs, warning that the move could reduce fuel production and raise costs for American consumers.
“Export bans would lead to less fuel production, tighter supplies, and rising costs for American families, farmers, and truckers,” the groups wrote in a Sept. 23 letter to the president.
Signatories included the American Fuel & Petrochemical Manufacturers, the American Petroleum Institute, the Business Roundtable, the National Association of Manufacturers, and the U.S. Chamber of Commerce.
The industry groups said restricting exports would force U.S. refineries to cut diesel production to match domestic demand, which would also mean less gasoline and jet fuel, since refineries produce more than just diesel.
“Falling utilization would result in less gasoline and jet fuel production and higher prices for those products as well,” the letter said. “This could not come at a worse time for consumers as home heating oil season is about to begin.”
Energy Secretary Chris Wright made a similar argument about refinery operations during an event in New York last week.
“The blunt tool of banning diesel exports definitely doesn’t work,” he said. “If you can’t export the diesel that comes out of our refineries, you run out of places to store it, and you have to reduce U.S. refining, which would put upward pressure on gasoline prices and jet fuel prices.”
Diesel fuels much of the nation’s trucking, farming, and freight delivery, so higher prices raise costs across the U.S. economy.
The price of U.S. diesel hit a record high last week, though it has since fallen by about 4 cents per gallon, helped by the resumption of operations of a major refinery in the Great Lakes area.
Some analysts say price moves in either direction are possible given the ongoing geopolitical instability.
“Many Americans may see modest declines ahead for gasoline and slight drops for diesel, but the West Coast faces continued pressure with further increases possible,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“The broader geopolitical situation remains fluid and could push prices in either direction with little warning, and with Trump still weighing a diesel export ban, impacts could follow.”
The latest data from the American Automobile Association (AAA) shows the average nationwide price of diesel was $6.45 on Monday, down from $6.47 the day before and $6.51 a week ago.
AAA attributed elevated gasoline and diesel prices in a recent note to “lingering volatility” in the Strait of Hormuz, a key maritime chokepoint in the Persian Gulf where Iranian forces have been attacking tankers, thereby pushing up crude prices.
“Typically, the start of autumn brings lower gas prices, but lingering volatility in the Strait of Hormuz and the high cost of crude oil are driving up pump prices,” AAA said on Sept. 24. “This month is on track to set a new September record.”
Trump has focused his attention on constraints on Russia’s refining capacity, the world’s second-largest diesel exporter after the United States. Ukrainian drones have been targeting refineries deep inside Russia in a bid to starve the Kremlin of revenue used to support the war in Ukraine.
“The big problem is the refineries in Russia are being blown up,” Trump told Fox News on Sunday. “This isn’t really a Middle Eastern problem, this is more of a Russia problem—that Ukraine and Russia are going at it and Ukraine is blowing up diesel refineries in Russia because they do a lot of refining.”
Ukrainian President Volodymyr Zelenskyy said Monday that Kyiv’s forces have been “consistently” using their long-range strike capability to target Russia, seeking to degrade its ability to wage war and pressure Moscow into a ceasefire.
Overnight strikes hit two military equipment production plants in the Tula and Voronezh regions, Zelenskyy said, along with “effective operations” against an oil facility in the Krasnodar area.
