U.S. business and energy groups warned Donald Trump in a Wednesday letter that restricting diesel exports would cut production, tighten supplies and raise costs for families, farmers and truckers. Trump is weighing a ban; AAA put diesel at $6.51 a gallon nationwide Thursday.
The joint letter included the U.S. Chamber of Commerce, Business Roundtable, National Association of Manufacturers, American Petroleum Institute and dozens of other organizations. Trump said Tuesday he had raised the idea internally. Republican lawmakers from farm states such as Iowa want action on fuel costs before the midterm elections. After a Politico report said the White House was drafting a 90-day ban, diesel futures and refiner shares fell Wednesday.
Treasury Secretary Scott Bessent said officials are studying whether a full or partial ban is feasible given refining capacity. Energy Secretary Chris Wright said nobody wants a full blanket ban or zero exports; discussions focus on moving more diesel into the U.S. while keeping other fuel flows steady. Experts caution that prices could briefly fall in some regions before refiners cut output and costs rise again. Global supplies are already strained: Ukrainian strikes on Russian refineries pushed Moscow to halt exports, while attacks by Iran and its Houthi allies disrupted Middle East refining and Strait of Hormuz shipments.
