Trump Considers Diesel Export Ban Amid Record Fuel Prices

National diesel prices reached record highs of approximately $6.53 per gallon in September 2026, driven by a global refining crisis. Supply shortages resulted from a U.S.-Israeli war against Iran, which led to an effective blockade of the Strait of Hormuz, and Ukrainian air raids on Russian refineries. These disruptions caused severe financial strain for U.S. farmers and trucking firms, some of whom reported fuel costs exceeding payroll expenses.

Donald Trump announced his support for a temporary ban on U.S. diesel exports during the UN General Assembly in New York to provide relief ahead of the November midterm elections. While Treasury Secretary Scott Bessent is examining the feasibility of the move, Energy Secretary Christopher Wright has rejected a full blanket ban, suggesting voluntary reductions instead. The proposal has divided Republicans; rural candidates like Ashley Hinson and Mike Rogers urged the ban and an end to the war in Iran, while other administration officials expressed skepticism.

The American Petroleum Institute and other energy analysts warn that an export ban would be counterproductive, potentially forcing refineries to cut overall production and increasing the cost of gasoline and jet fuel. Internationally, the European Union expressed concern over the plan, as it has become heavily dependent on U.S. diesel imports. Meanwhile, diplomatic efforts have emerged, with Trump reporting productive talks with Iranian envoys and Saudi Arabia restarting its East-West pipeline to bypass the Strait of Hormuz.