U.S. diesel prices hit a record $6.53 a gallon; export ban could backfire, experts warn

U.S. diesel prices hit a record $6.53 per gallon on Tuesday, prompting some Republican lawmakers to propose an export ban, though energy experts warn the move could backfire and worsen the global supply crunch. The price surge is particularly painful for farmers, truckers, and small businesses. Lawmakers like Iowa's Sen. Chuck Grassley and Rep. Ashley Hinson argue that barring American companies from selling diesel abroad would lower domestic costs. However, experts say the U.S. exports diesel because refineries produce more than the country consumes, and global disruptions—including Russia's July export ban and the Iran war—have driven prices up. An export ban could reduce domestic production, shift refineries to other fuels, and cement foreign buyers' deals with non-U.S. suppliers. Alternative measures include extending a Jones Act waiver set to expire Nov. 15, or temporarily waiving renewable fuel rules to cut prices by 10-20 cents per gallon. GasBuddy data shows no actual U.S. diesel shortages, with only 0.5-1% of stations temporarily out of fuel at any time.