White House Rules Out Diesel Export Ban as Prices Surge Above $6.50
The White House has denied reports that it is considering a ban on U.S. diesel exports despite rising fuel prices exceeding $6.50 per gallon. Officials clarified that the administration is focused on increasing domestic supply rather than restricting shipments, amid concerns about the impact on the economy.
Why it matters
Rising diesel prices pose a significant economic challenge and political risk ahead of the midterm elections, highlighting the tension between domestic energy policy and global market dynamics.
The White House on Wednesday denied that the Administration is considering a ban on U.S. diesel exports, clarifying comments from President Donald Trump and Treasury Secretary Scott Bessent a day earlier that appeared to leave the door open to restrictions as the average diesel price in America topped $6.50 per gallon. A White House official denied a report that the Administration was preparing a 90-day ban on diesel exports, while Energy Secretary Chris Wright said nobody was considering a flat ban on shipments. Instead, the Administration is discussing ways to get more diesel into the U.S. market while maintaining maximum flows of gasoline and jet fuel, Wright said. The clarification came after President Trump on Tuesday signaled support for keeping more U.S. diesel at home, saying, "I've said let's not send out the diesel. We make a lot of diesel."
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