White House weighs diesel export ban to curb fuel prices

President Donald Trump said the White House is seriously considering a U.S. diesel export ban to address soaring fuel prices ahead of November midterm elections, while acknowledging the move could slightly increase gasoline prices for cars. Analysts warn the ban could backfire, pushing global diesel prices higher and potentially triggering U.S. gasoline price increases as refiners adjust operations. The U.S. is the world's largest diesel exporter, supplying about half of Europe's diesel imports recently, with average U.S. diesel prices near $6.50 per gallon. The energy industry opposes the ban, with the American Petroleum Institute arguing restrictions would exacerbate refining challenges. The supply crunch stems from U.S.-Iran and Russia-Ukraine hostilities disrupting trade routes, with Ukrainian attacks on Russian refineries adding pressure.