Diesel Futures Fall 3.35% on Export Ban Talk; Gasoline Rises 2.85% as White House Weighs Curbs

Ultra low sulfur diesel futures on the CME fell 16.57 cents to $4.7764 per gallon on Wednesday, a 3.35% drop and the lowest settlement since September 8, as speculation over a U.S. diesel export ban pressured prices. RBOB gasoline futures surged 9.95 cents to $3.587 per gallon, up 2.85%, the highest close since July 23. The market reaction followed President Trump's signal of support for the ban, joined by several Republican lawmakers. Some form of restriction is under consideration, including a possible 90-day export ban, though Energy Secretary Chris Wright has publicly opposed the measure. S&P Global Energy warned that a ban would force refiners to cut crude runs by about 2 million barrels per day, eliminating the diesel surplus but reducing gasoline and jet fuel supply, potentially making the U.S. a net gasoline importer by the fourth quarter of 2026.