Trump backs diesel export ban as US pump price hits record $6.53, farm and trucking lobbies split
Why it matters: A ban on US diesel exports would be the biggest direct government intervention in diesel supply this year, pushed specifically in the name of truckers and farmers. Whatever Washington decides will move global diesel pricing, the single biggest input cost for both sectors right now.
President Trump said on 22 September he has "called for" a ban on US diesel exports, with Treasury Secretary Scott Bessent confirming the administration is examining whether a full or partial ban is workable. The push follows weeks of lobbying from farm-state Republicans, Iowa's Senator Chuck Grassley among them, who say record diesel prices are gutting farm income during harvest and squeezing trucking margins. US on-highway diesel hit $6.529 a gallon on 21 September, up nearly $2.78 on a year ago, driven by Ukrainian strikes on Russian refining capacity and Houthi attacks on Saudi pipeline and refinery infrastructure. Refiners oppose a ban, warning it would cut domestic output and push prices higher, not lower.
Source: CNBC · 22 September 2026 (EIA price data dated 21 September 2026)