President Trump voiced support for a potential diesel export ban on Tuesday as U.S. fuel prices reached record highs amid ongoing wars in Iran and Ukraine. Treasury Secretary Scott Bessent noted the administration is examining refining capacity to determine if a full or partial restriction is feasible.
Surging energy costs have brought fuel prices to unprecedented levels across the country, prompting swift political pressure from midterm candidates. The spike has placed a heavy squeeze on consumers and businesses alike as global supply chains feel the shockwaves of prolonged conflict.
Trump Backs Export Restraints Amid Mounting Pressure
“I’ve called for that, too. I said, ‘Let’s not send out the diesel.’ We make a lot of diesel. I’ve called for it—I’ve called for it with my people,”
Trump reiterated his stance during his remarks, emphasizing the domestic volume of fuel produced and indicating that internal discussions within the administration have been ongoing. Treasury Secretary Scott Bessent, speaking at the same gathering, explained that administration officials are actively examining whether it’s feasible in terms of the overall refining capacity and whether a full or partial ban would work to see whether restrictions would effectively lower domestic prices.
Midterm Politics and the Global War Impact on Refineries
The push for export restrictions has gained significant traction among Republican candidates facing competitive midterm races. U.S. Representative Ashley Hinson, a Republican running in a competitive Senate race in Iowa, publicly urged action on social media, writing that Iowans are being squeezed and shouldn’t have to foot the bill at the pump or the checkout line for the war in Iran.
Hinson added, We need to use every option at our disposal to provide some relief from high prices.
At the root of the price spike are sharp export cuts from major global producers including Russia, Saudi Arabia, and the United Arab Emirates, driven by the ongoing wars in Iran and Ukraine. On Sunday, Trump urged Zelenskyy to pause strikes on Russian oil refineries over concerns that they could further push up prices, according to the Financial Times. On social media, Trump wrote that Russia unfortunately lost control of its Diesel Oil Industry.
The situation has been further complicated by military strikes on energy infrastructure. Trump noted that Ukrainian attacks on Russian refining sites represent a serious hit to Moscow’s production, describing it by stating, It is a serious hit on the Russians. It’s also a serious hit on the price of diesel. Trump also told reporters the two leaders would discuss working out a solution to end Russia’s war in Ukraine, stating, I think it’s going to happen.
Industry Warnings Against Domestic Restrictions
Energy industry representatives immediately pushed back against the prospect of an export ban, warning that government intervention could worsen the underlying economic strain. The American Fuel and Petrochemical Manufacturers trade group released a statement arguing that restricting outbound shipments would ultimately “backfire.” According to the trade association, domestic refiners would be forced to cut production, and producing less diesel also means producing less gasoline,
threatening a wider squeeze across the entire fuel market.
