[E-Daily Reporter KIM JUNG YOU ] Ahead of the midterm elections this November, U.S. President Donald Trump stated that he is “seriously considering” a ban on U.S. diesel exports.

According to Bloomberg News on the 28th (local time), President Trump told Fox News on the 27th while attending the final round of the Presidents Cup golf tournament near Chicago, “A ban on diesel exports might slightly raise gasoline prices for passenger cars, but we are considering it very seriously, and we may actually implement it.”

The global fuel market has recently been shaken by disruptions to shipping in the Strait of Hormuz—a key crude oil transport route—and by Ukraine’s attacks on Russian refining facilities. Amid this situation, U.S. diesel exports last month reached a record weekly high of approximately 2 million barrels per day. Consequently, some members of Congress have been persistently urging President Trump to restrict U.S. diesel exports as the harvest season approaches.

Key administration officials—including National Economic Council (NEC) Director Kevin Hassett, Treasury Secretary Scott Bessent, and U.S. Trade Representative (USTR) Jamison Greer—have recently been analyzing the ripple effects that a short-term ban on diesel exports would entail. This demonstrates that the U.S. administration is treating this proposal with great seriousness.

CEOs of U.S. oil refiners and related industry groups are proposing a suspension of the federal diesel excise tax as an alternative that could lower prices without the negative side effects of an export ban. However, with the U.S. House of Representatives in a pre-election recess, internal debates continue over how to implement such a tax cut.

Diesel is widely used in farm equipment, freight trains, trucks, and delivery vans. Nationwide, the average consumer price for diesel reached a record high of about $6.50 per gallon last week. This is fueling voter anxiety over rising prices ahead of the midterm elections in November.

Energy Secretary Chris Wright stated last week that the administration is negotiating a voluntary export restraint with the refining industry rather than imposing a government-mandated export ban.

Citing key officials, Bloomberg reported that “some companies are already adding contractual safeguards in case they are unable to deliver supplies to overseas buyers due to a halt in diesel exports.”

If the diesel export ban is actually implemented, U.S. domestic diesel prices are expected to plummet in the short term. Conversely, key U.S. allies such as Brazil and the United Kingdom are expected to face a fuel shortage crisis.