Trump backs possible US diesel export ban as prices hit record high

President Donald Trump said Tuesday he supports a possible US diesel export ban as record-high fuel prices, driven by wars in Iran and Ukraine, pressure American voters ahead of November midterm elections. He has urged advisers to halt foreign diesel sales. Energy industry figures staunchly oppose the move, arguing it would provide only short-term relief before raising costs. Treasury Secretary Scott Bessent said officials are examining whether a full or partial ban is feasible. Diesel exports recently hit a weekly record near 2 million barrels a day, with US retail diesel above $6.50 per gallon. Republican Senators Chuck Grassley and Dan Sullivan back the ban, while Interior Secretary Doug Burgum and Energy Secretary Chris Wright argue against it. Analysts warn restrictions could cut refinery output, disrupt supply chains, and ultimately drive prices higher, with effects varying by region.