John Thune considers diesel export ban amid record fuel prices

Senate Majority Leader John Thune has expressed openness to exploring a ban on diesel exports as domestic pump prices reach record highs. National diesel averages recently surpassed $6 per gallon, driven by supply constraints and geopolitical tensions, including the U.S.-Iran conflict and Russia’s own diesel export ban following strikes on its refineries.

Implementing such a ban would likely require an act of Congress, as a 2015 law repealed broad presidential authority to restrict refined-product exports. While Thune noted he is open to any viable solution that relieves price pressure, some officials, including Interior Secretary Doug Burgum, have questioned whether a ban would effectively lower domestic costs or if refiners would simply retain the savings.

The U.S. currently serves as a major global diesel exporter. Market analysts warn that a domestic export restriction could further escalate global diesel prices, particularly as Russia, the world’s second-largest exporter, has already halted shipments.