US considers diesel export ban to ease record fuel prices, potentially affecting Europe

The US government is considering a diesel export ban to combat rising fuel prices, a move that could impact Europe. President Donald Trump announced the review at the UN General Assembly, citing potential domestic price relief. Treasury Secretary Scott Bessent confirmed feasibility studies are underway for a full or partial export halt. The US is Europe's second-largest diesel supplier, making European markets potentially vulnerable to supply disruptions from such a policy. Fuel prices have surged due to the Iran war, with diesel hitting record highs and gasoline up nearly 50 percent. Republican lawmakers, including Senate candidate Mike Rogers, are pushing for the ban ahead of November's congressional elections.