US diesel export ban could backfire, analysts warn of global fuel price surge

US President Donald Trump has expressed support for banning US diesel exports to combat record-high domestic prices ahead of the November midterm elections, but analysts warn the move could trigger a surge in global fuel prices. The US produces more diesel than it consumes, exporting 1.3 million barrels per day while importing 0.2 million. A ban would initially lower US diesel prices but could force refineries to cut production, reducing petrol and jet fuel output and raising their prices. Storage tanks on the US Gulf coast could fill within three weeks. Global diesel supply is already strained by Middle East shipping disruptions, attacks on Russian refineries, and Moscow's export moratorium. Europe, heavily dependent on US diesel, would face severe supply shortages, potentially driving French pump prices to around €3.90 per litre.