US Weighs Full or Partial Diesel Export Ban as Prices Surge — Bessent
Treasury Secretary Scott Bessent testifies before the House Committee on Appropriations, Subcommittee on Financial Services and General Government, oversight hearing of the U.S. Department of the Treasury on Capitol Hill in Washington, Tuesday, May 6, 2025.
The Trump administration is examining whether to restrict US diesel exports as record fuel prices squeeze farmers and the trucking industry.President Donald Trump said he has already pushed the idea internally:“I’ve said, let’s not send out the diesel. We make a lot of diesel.”Treasury Secretary Scott Bessent confirmed that officials are studying both options:“We’re examining that, whether it’s feasible in terms of the overall refining capacity and whether a full or partial ban would work.”US diesel averaged about $6.53 per gallon on Tuesday, up roughly 93 cents in a month and $2.84 from a year earlier, according to figures cited by The Hill.
