President Donald Trump Has Floated the Idea of a Partial or Full Ban on Diesel Exports, but the Unintended Consequences of Such Actions Would Be Catastrophic

Key Points Although the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite have soared under President Trump, it’s becoming increasingly difficult to sweep energy inflation under the rug. Diesel hit a record high of $6.53 per gallon on Sept. 22, fueled by the ongoing closure of the Strait of Hormuz. Donald Trump has loosely suggested reducing U.S. diesel exports to push down prices. However, partially or fully banning diesel exports would create more problems than it solves -- and it wouldn’t get to the root of the problem.