U.S. Diesel Export Ban Could Backfire on Consumers

President Trump is considering a temporary ban on U.S. diesel exports to lower record-high fuel prices, a move analysts warn could harm consumers more than help them. Diesel averaged $6.53 per gallon on Tuesday, up sharply since the Iran war began. The U.S. exports about 1.5 million barrels of diesel daily, nearly a fifth of global seaborne trade. Analysts say a ban would likely cut prices in the Gulf Coast and Midwest but raise them on the coasts, reduce refinery output, and increase costs for gasoline, jet fuel, and groceries. Republican lawmakers are divided ahead of November midterms, with farm-state senators pushing the ban while oil-state figures call it a "gimmick." The American Petroleum Institute opposes it, warning restrictions would worsen refining challenges and ultimately hurt consumers.