Treasury examines diesel export ban to curb record fuel prices

cnbc.com

The Trump administration is examining whether a diesel export ban is feasible to address record-high fuel prices, Treasury Secretary Scott Bessent said Tuesday, with President Trump stating a decision will be made "fast one way or another." Bessent said officials are assessing overall refining capacity to determine if a full or partial ban would work. Diesel has surged to a record $6.53 per gallon nationally, about $2.84 more than last year, with California prices reaching $8.44. Trump said he has called for halting diesel exports, noting "we make a lot of diesel." The remarks came during a bilateral meeting with Ukrainian President Volodymyr Zelenskyy at the United Nations.


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