Trump speculates on diesel fuel export ban as high prices ripple across US economy

National average diesel prices reached $6.52 a gallon as of September 14, 2026, up 3.6% in a week and 74% since the same week last year, according to the U.S. Energy Information Administration. The U.S.-Iran conflict, Russia's war in Ukraine, and the near-closure of the Strait of Hormuz have combined to squeeze global crude and refined-fuel supply, while Ukrainian strikes on Russian refineries have cut Russian diesel exports further.

Higher diesel costs ripple into food prices, since farm equipment and refrigerated trucking both depend on the fuel, and into consumer goods broadly, since long-haul trucking passes fuel costs directly to buyers. Public transit ridership rises as gas gets pricier, while airfares climb too since jet fuel shares diesel's production process.

Prices vary sharply by region: California tops $8 a gallon due to limited pipeline access and stricter fuel formulas, while the Gulf Coast sits at $6.03 thanks to nearby refineries. Russia, the world's second-largest diesel exporter, suspended exports in July 2026 and extended the freeze through year's end, pushing former customers toward U.S. suppliers who are raising domestic prices to chase better margins overseas.

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