Trump is open to a proposed U.S. diesel export ban, but it has not been imposed. It might briefly lower prices in some regions; the American Fuel & Petrochemical Manufacturers (AFPM) warns it could curb refinery output and later raise diesel and gasoline prices.
Republican lawmakers from states including Iowa and Tennessee have proposed a temporary ban, hoping to reduce costs for farmers and truck drivers. U.S. refineries produce about 5.3 million barrels a day of distillate, including diesel and heating oil, compared with domestic diesel demand of about 3.6 million barrels a day; the country exports roughly 1.5 million barrels daily, about 20% of the total volume sold on international markets. AAA recorded a nationwide diesel average of $6.5276 a gallon on Sept. 22, the highest on record; CNN reported prices had risen 83% in 2026.
AFPM warns a ban could prompt retaliation from countries that sell oil and gas to the U.S. Some U.S. regions import gasoline and diesel despite the domestic surplus because fuel cannot always be moved economically from where it is produced to where it is needed. The author says a ban is unlikely, citing opposition from politicians in oil-producing states. Refiners make up about 13.7% of Vanguard Energy ETF holdings; the fund's one-year total return was about 41%.
