Trump says he would back ban on diesel exports
Republicans lawmakers have put pressure on the president to curb exports as diesel prices soar to record highs in the US.
Trump says he would support a ban on diesel exports
US President Donald Trump said he would back plans to stop American diesel exports in an effort to bring down prices for motorists at the pump.
His remarks followed pressure from Republican lawmakers on the president ahead of November's mid-term elections to limit exports, as diesel prices in the US climbed to record levels.
Speaking on the margins of the United Nations General Assembly, Trump said keeping domestic supplies within the US could also help reduce broader petrol prices.
"I've called for that too. I've said let's not send out the diesel. We make a lot of diesel. That could have a little bit of an effect on regular automobile gasoline," he said .
US Treasury Secretary Scott Bessent said officials were examining "whether a full or partial ban would work" without harming refinery capabilities.
According to American Automobile Association data, the national average diesel price rose above $6.50 (£4.87) a gallon on Tuesday, setting a new record.
The conflict in the Middle East has tightened global oil supplies, adding pressure to pump prices.
The jump in diesel costs has created political urgency ahead of the key mid-term elections on 3 November, with several Republicans urging the administration to curb fuel exports to ease the financial burden on voters.
US Representative Ashley Hinson, a Republican Senate candidate in Iowa, said on Monday that consumers in the state were "being squeezed and shouldn't have to foot the bill at the pump."
In Alaska on Tuesday, Senator Dan Sullivan also called for a "temporary pause of American diesel and exports" to rebuild domestic reserves.
Adding to volatility in global markets, Ukraine's strikes on Russian energy facilities have reduced the country's refining capacity.
"It is a serious hit on the Russians," Trump said during a meeting with Ukrainian counterpart Volodymyr Zelensky on Tuesday. "It's also a serious hit on the price of diesel."
Trump said he would discuss the strikes with the Ukrainian president, along with wider efforts to negotiate an end to the conflict. "I think it's going to happen," he said.
Kyiv has stepped up drone attacks on Russian processing plants in recent months in an effort to cut off the Kremlin's main source of war funding.
Because Russia is one of the world's biggest diesel suppliers, lower refining capacity – together with Moscow's own strict export bans – has sharply reduced global reserves.
Although limiting US exports could provide short-term relief for American drivers, such a ban could also drive prices higher internationally.
The US exports about 1.3 million barrels of diesel a day – almost a quarter of its refining output.
Reducing those shipments could strain supplies for Western allies, including the UK and the Netherlands, which have depended on American fuel to make up shortfalls caused by sanctions on Russian energy.