Bloomberg Surveillance · Thursday, October 1, 2026
President Donald Trump has signaled a potential shift away from a proposed ban on diesel exports, acknowledging concerns that such a move could increase gasoline prices. While considering the ban to address domestic diesel shortages, the administration is reportedly backing off due to potential negative economic consequences, with some suggesting import restrictions as a less impactful alternative.
“I'm thinking about it. I speak to Chris and Doug about it a lot. They sort of think it'll help diesel, but it might raise the price of other things. And I think we're in a good place because oil prices are going to start to come down.”
“I think for all intents and purposes, there are a lot of folks who've been close to the White House, who've been in the Oval Office, arguing that there are these unintended consequences, as Tyler just was talking about. We think that maybe you could see some import restrictions on diesel. So maybe that gets you sort of halfway there, sort of helping some of these farm states, obviously, where there are these Senate races. But it seems like the full-on export ban is probably at least on ice for now.”