Trump ‘very seriously’ looking at diesel export ban

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeCommoditiesEnergyOil & GasTrump ‘very seriously’ looking at diesel export banSeveral farm-state lawmakers have urged Trump to limit U.S. diesel exports during the peak of the fall harvest seasonAuthor of the article:María Paula Mijares TorresU.S. President Donald Trump reacts to the crowd on the first tee prior to Sunday's Singles on day four of the Presidents Cup 2026 at Medinah Country Club on September 27, 2026 in Medinah, Illinois. Photo by Michael Reaves/Getty ImagesU.S. President Donald Trump said he is still looking “very seriously” at implementing a U.S. ban on diesel exports to combat high prices, even as others in his administration continue to focus on other possible steps.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Account“That can oftentimes lead to a little bit of an increase on gasoline for cars, so we’re looking at it very seriously — we may do it,” Trump told a Fox News reporter Sunday while attending the Presidents Cup golf tournament final near Chicago.This advertisement has not loaded yet, but your article continues below.Several farm-state lawmakers have urged Trump to limit U.S. diesel exports during the peak of the fall harvest season, as global fuel markets reel from the disruption to flows in the critical Strait of Hormuz and Ukrainian attacks on Russian refineries. The U.S. has emerged as the supplier of last resort to the world, with diesel exports surging to a weekly record near two million barrels a day last month.National Economic Council Director Kevin Hassett, Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer have been analyzing the ramifications of a potential short-term ban on U.S. diesel exports over the last week, underscoring the seriousness of the administration’s consideration of the idea.Oil CEOs and industry groups have pushed instead for suspending the federal diesel excise tax, saying it would ease prices without the drawbacks of an export ban. But that’s been met with internal debate about how to waive the tax — especially with the House of Representatives in a pre-election recess.Diesel powers farm equipment, freight trains, trucks and delivery vans. U.S. retail prices hit a record last week and are averaging about US$6.50 a gallon, adding to voter anxiety over living costs before November’s midterm elections.This advertisement has not loaded yet, but your article continues below.Energy Secretary Chris Wright said last week that the administration is working with refiners on voluntary export curbs as an alternative to a government-imposed ban.Some companies are already adding contractual protections in the event a pause on diesel shipments overseas prevents deliveries to foreign buyers, people with knowledge of the situation told Bloomberg News Friday.In the event of a ban, U.S. diesel prices would be widely expected to plummet, at least in the short run. A halt would leave America’s allies, including Brazil and the U.K., urgently needing to secure fuel.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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