WASHINGTON: US President Donald Trump on Friday ruled out imposing a diesel export ban, reversing his earlier consideration of the measure after European countries agreed to release fuel from their strategic reserves.
The G7 nations announced plans to release 100 million barrels of diesel and crude oil from their reserves over the next four months, including a substantial diesel release within the first 20 days. The coordinated action aims to ease global energy supply concerns amid disruptions caused by the ongoing war in Iran and Ukrainian attacks on Russian refineries.
Speaking to reporters at the White House, Trump stated that a US diesel export ban was "never really on the table" and praised Europe’s decision. "Europe has a lot of diesel, and they're going to be making a major world contribution, and so are we," he said. "And we're not going to be doing the export ban. We're going to be doing what we're supposed to do."
Trump had previously signaled openness to a diesel export ban on September 22, suggesting it could lower domestic fuel prices by increasing supply. However, his administration faced opposition from energy industry allies, including Energy Secretary Chris Wright, who warned the move could disrupt global markets and ultimately drive up prices at home.
The president’s reversal comes amid mounting political pressure ahead of the November midterm elections, where voter anger over energy costs has intensified. Republican lawmakers in states heavily reliant on diesel—such as farming, construction, and transportation sectors—had urged Trump to prioritize domestic supply by restricting exports.
The G7’s decision to release fuel from reserves was framed as a response to surging diesel prices, which have risen 70% to over $6.50 per gallon since the start of the Iran conflict. The coordinated release is intended to stabilize markets while avoiding unilateral trade restrictions that could exacerbate supply shortages elsewhere.
Trump’s initial consideration of an export ban marked the first potential restriction on US energy exports since the Obama administration lifted a decades-old ban on crude oil exports in 2015. Industry groups had cautioned that such a move could trigger retaliatory measures from trading partners and undermine long-term energy security goals.
The White House did not provide further details on alternative measures to address domestic fuel costs, though Trump emphasized continued cooperation with European allies to manage the crisis.