Trump Weighs Diesel Export Limits as U.S. Prices Hit Record
No ban or executive action had been announced as of Sept. 23, while August exports reached 1.6 million barrels per day.
President Donald Trump is weighing full or partial limits on U.S. diesel exports after the national on-highway price reached a record, with officials still assessing whether refineries can absorb the change.
No ban or executive action had been announced as of Sept. 23. Trump said Sept. 22 that he had urged advisers to consider restricting exports. “I’ve said let’s not send out the diesel. We make a lot of diesel,” Trump said.
Treasury Secretary Scott Bessent said officials were examining whether a full or partial ban would work given the country’s overall refining capacity.
The national on-highway diesel price reached $6.529 per gallon for the week ending Sept. 21, up 24.4 cents from the previous week. Distillate stocks are projected to drop under 100 million barrels in September and stay unusually low compared with the five-year range for the remainder of 2026.
Supply losses involving the Middle East, Russia and China have supported higher U.S. distillate exports and prices. U.S. diesel exports reached a record 1.6 million barrels per day in August 2026, with most cargoes headed to Latin America and Europe.
A complete export ban could force refiners to cut crude processing by nearly 2 million barrels per day and reduce U.S. gasoline production by as much as 750,000 barrels per day. Refineries produce diesel and gasoline together, so lower operating rates could reduce supplies of both fuels.
U.S. refineries produce about 5.3 million barrels of distillate fuel daily, compared with domestic demand of about 3.6 million barrels. The policy’s opponents argue that export restrictions would not create additional fuel for U.S. consumers.
Rep. Tim Burchett introduced H.R. 10423, which would ban diesel exports through January 2027. H.R. 10422 would impose controls if the national average diesel price reached $5 per gallon and remove them after prices fell to $4.50 for 30 consecutive days.
The debate centers on whether keeping more diesel in the United States would lower prices or instead prompt refiners to reduce production. The proposed measures would keep that question before policymakers through January 2027.
