Trump Backs Diesel Export Ban as U.S. Prices Hit Record $6.53 a Gallon

President Donald Trump said on Sept. 22, 2026, that he has asked aides to consider halting U.S. diesel exports, and that a decision will come soon, as record fuel prices pressure his administration ahead of November midterms. Treasury Secretary Bessent said officials are weighing total versus partial export restrictions against overall U.S. refining capacity. No ban has been announced. AAA data show the national diesel average at $6.53 a gallon, up from $6.27 a week earlier and $3.69 a year ago; California is at $8.44. Republican lawmakers including Sen. Grassley and Majority Leader Thune have pressed for an export ban as farmers and truckers absorb costs. War damage to Russian and Middle Eastern refineries has cut global capacity while U.S. refiners boost exports. CIBC's Rebecca Babin warned restrictions would hurt U.S. refiners and raise global prices, which could feed back into U.S. markets.