Veytics Intelligence
2026-09-23 · CNBC

Oil industry warns a diesel export ban will raise fuel prices as Trump weighs restrictions

The oil industry has warned a diesel export ban will backfire and exacerbate the global fuel crisis as President Donald Trump weighs restrictions. Trump appeared to back an export ban earlier this week, as he faces mounting political pressure to tackle rising fuel prices ahead of the midterm elections in November. "I've said let's not send out the diesel. We make a lot of diesel," Trump told reporters Tuesday on the sidelines of the annual United Nations General Assembly. "I've called for it within my people. I've been talking about it." The American Petroleum Institute, an oil lobby group, quickly pushed back after Trump's comments. API CEO Mike Sommers warned "restricting U.S.

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