US diesel export ban could backfire, raising prices instead of cutting them

US President Donald Trump's support for banning US diesel exports to lower fuel prices has drawn warnings from analysts that the move could backfire, raising global prices and worsening supply disruptions without offering a sustainable solution for high domestic costs. Trump said Tuesday he backs the idea of banning diesel exports as US prices hit record highs, with the national average reaching $6.5107 per gallon, according to AAA data. Diesel is critical for transportation, agriculture, and goods production, so shortages could increase shipping costs and add inflationary pressure. US diesel exports hit a record 1.6 million barrels per day in August, up from 1 million in February, with key buyers including Brazil, Mexico, and France. Industry groups warn the ban could disrupt refineries and global markets, while analysts note it may lower US prices but raise them abroad and reduce refinery output of other fuels.