Trump Considers Diesel Export Ban Amid Record Fuel Prices
US President Donald Trump is considering banning diesel exports to combat rising fuel prices, a move that could have far-reaching consequences for the global energy market. This shift in policy comes despite his previous criticism of the Biden administration's restrictions on liquefied natural gas (LNG) exports.
In 2024, Trump blasted the Biden administration for freezing approvals for new LNG export plants, but after taking office, he promptly reversed this policy via an executive order. However, with diesel prices hitting a record $6.51 per gallon and the midterms approaching, Trump is now considering limiting US energy exports.
Experts warn that such a ban would not only fail to alleviate high fuel prices but could also cause refiners to produce less fuel, leading to increased costs for gasoline, diesel, and jet fuel. This move has been met with criticism from the oil industry and even some former Trump officials, who argue it makes little economic sense.