Trump Proposes Diesel Export Ban Amid Record Prices
President Trump suggests temporary diesel export ban to curb rising prices amid Iran war tensions.
2 min read
President Donald Trump has proposed a temporary ban on diesel exports as a response to soaring fuel prices, sparking concerns within the oil industry. With the average price for a gallon of diesel surpassing $6 for the first time ever in September, Trump hinted at potential restrictions during a trip to the United Nations.
“I’ve called for that, too. I said, ‘Let’s not send out the diesel.’ We make a lot of diesel,” Trump said, emphasizing that a decision on the embargo would follow soon. Treasury Secretary Scott Bessent confirmed the administration is considering the option, though Energy Secretary Chris Wright expressed skepticism about its effectiveness in lowering prices.
Industry Pushback Against Export Ban
Oil executives and industry leaders have voiced strong opposition to the proposed embargo, warning of potential economic harm. Steven Pruett, CEO of Elevation Resources, called the idea a “bad idea,” arguing it would disrupt the natural flow of oil and ultimately hurt American consumers.
Canary CEO Dan Eberhart added that the ban would harm overseas customers, noting the significant investment in developing international markets. American Petroleum Institute President Mike Sommers warned that restricting exports would exacerbate refining challenges and harm consumers, advocating instead for increased supply and flexibility.
Republican Support for Embargo
Despite industry pushback, some Republicans have echoed calls for an oil embargo. Michigan GOP Senate candidate Mike Rogers urged an immediate action, stating, “Until this war is over, I’m calling for a temporary embargo on American diesel exports.” Similarly, Senator Chuck Grassley (R-IA) and Iowa Republican Senate candidate Ashley Hinson have supported the export ban while prices remain high.
The average national price for a gallon of diesel hit $6.53 on Tuesday, the highest on record, marking an increase of over $3 per gallon from a year ago, before the war with Iran began.
Source: Daily Wire
