Trump weighs diesel export halt as US fuel prices hit record highs

US President Donald Trump is considering a diesel export ban to combat record-high domestic fuel prices ahead of the November midterm elections. The proposal is divisive, with potential economic and geopolitical consequences. Treasury Secretary Scott Bessent is reviewing the feasibility of a full or partial export halt. Supporters from agricultural states like Iowa back the move, while oil-producing states and industry groups warn it could backfire by reducing refinery output and affecting gasoline production. The US became Europe's top diesel supplier after Russia's invasion of Ukraine, and global oil prices have spiked due to the Iran war and Hormuz Strait blockade. Energy Secretary Chris Wright also cautioned against harming allied nations reliant on US diesel.