President Donald Trump said Wednesday that he is still considering a ban on US diesel exports to curb high domestic fuel prices, but warned that the measure could also raise gasoline costs. He has not announced a decision. His comments suggest the administration is weighing a possible diesel-price benefit against risks to other fuel supplies, while Energy Secretary Chris Wright expects additional supply and lower prices in the coming days and weeks.
Trump has not ruled out a restriction
Asked in the Oval Office whether he had decided on a ban, Trump said his aides believed it could help diesel prices but might make other costs rise. He described the possible gasoline effect as a modest increase alongside a modest diesel decline, without giving a forecast or a timetable.
Trump said he discusses the idea regularly, yet also pointed to expectations that oil prices will fall. Three days earlier, he had said he was considering the measure very seriously. The shift in emphasis matters for fuel markets: the proposal remains under consideration, but the president has not committed to using it.
Officials disagree on the likely price effect
Wright, who stood beside Trump at the Resolute Desk, said diesel prices had fallen over the previous week and that he expected them to move down meaningfully in the days and weeks ahead. He cited anticipated announcements from European partners about new diesel supplies reaching the market.
At the same time, Wright described diesel supplies as tight. He pointed to disruptions linked to conflicts in Russia and the Middle East, as well as interruptions from China, while saying US refiners were operating at record highs. His remarks present a different route to easing prices: more available supply, rather than restricting exports.
Global disruption is shaping the debate
The source of pressure extends beyond US export policy. The material links record diesel prices to conflicts in Iran and Ukraine, which have disrupted global energy flows. Trump singled out Russia’s war against Ukraine as a major problem for diesel, while oil prices rose on Wednesday as the prospect of US talks with Iran appeared to stall again.
Trump also pointed to a recovery in crude shipments through the Strait of Hormuz, saying daily exports there had returned to prewar levels during the week. The strait is a key route for global oil trade, and ship traffic had been constrained after the US and Israel attacked Iran in late February. A recovery in crude transit may ease one pressure, but it does not itself settle the question of diesel availability.
Export limits could carry costs beyond diesel
The central risk in Trump’s own account is that blocking diesel exports might affect gasoline as well. A restriction would aim to retain more diesel at home, but the president acknowledged that it could alter the balance of other fuels and push gasoline prices upward. No figures were provided for the possible size of either price movement.
The US oil industry has warned that an export ban could force refineries to cut production and ultimately increase domestic energy prices. That concern bears on the policy’s intended payoff: keeping more fuel in the country would not guarantee cheaper supplies if refinery output also fell. Trump’s remarks leave that trade-off unresolved, and no implementation details or decision date were given.
Europe offers a separate supply channel
Wright said announcements from European partners on new diesel supplies were expected soon, describing them as a potential source of relief for the market. This aligns with the administration’s interest in expanding available supply rather than relying only on a US export restriction.
The White House has also urged the European Union to release emergency diesel stocks, while Trump has cited improved crude flows through the Strait of Hormuz. Those steps involve different parts of the supply chain: emergency inventories, new diesel supplies and crude transit. The administration has not said whether any of them would replace a ban or merely complement it.
Takeaway: Trump is keeping a diesel export ban on the table, but his gasoline warning and officials’ focus on supply show why the decision remains unsettled.
Sources
- Latest Market News — “US weighs diesel export ban: Trump”
- Reuters — “Trump says he is still considering diesel export ban”
- wsj.com — “White House Considers Ban on Diesel Exports as Prices Keep Rising – WSJ”
- atlanticcouncil.org — “A diesel export ban could disrupt US supply chains – Atlantic Council”
- The New York Times — “These Republicans Have Called on Trump to Ban U.S. Diesel Exports – The New York Times”
