Trump Weighs Diesel Export Limits Amid Price Surge

President Donald Trump has signaled support for restricting U.S. diesel exports as fuel prices surge amid supply disruptions tied to conflicts involving Iran and Ukraine; U.S. diesel has reached about $6.52 a gallon. Treasury Secretary Scott Bessent said officials were assessing whether a full or partial restriction was feasible, but the White House later denied it was pursuing a blanket ban and said officials were considering other ways to increase domestic supply. More than 30 business, energy and manufacturing groups urged Trump to reject export limits, warning they could lead refineries to cut production, tighten supplies and raise prices for diesel, gasoline and jet fuel. Energy Secretary Chris Wright and analysts also warned that storage constraints could prompt refinery cutbacks, limiting domestic price relief and disrupting overseas markets, particularly Europe. Republican lawmakers have pressed for action ahead of the November midterm elections, while critics warn that restrictions could worsen global shortages without materially lowering U.S. prices.