Trump Weighs Diesel Export Ban as Gas Prices Hit Record Highs President Donald Trump is considering a diesel export ban as US gas and diesel prices hit record highs, despite warnings from cabinet officials, lawmakers, and oil executives. President Donald Trump said on Sunday that his administration is considering a ban on diesel exports very seriously, as US diesel prices hit record highs of around $6.50 per gallon, up nearly $3 from $3.69 a year ago, according to AAA. The remark, made during a golf tournament in Illinois, marks a sharp reversal from months of statements by his top energy officials that the policy was off the table. Trump Reverses Course on Diesel ExportsEnergy Secretary Chris Wright said at an event last week that the blunt tool of banning diesel exports definitely does not work. Wright, who oversees oil and gas production and the Strategic Petroleum Reserve, warned the ban would put upward pressure on gasoline prices and jet fuel prices.In May, Wright said the ban was absolutely ruled out, while Interior Secretary Doug Burgum called export curbs bad on all accounts the same month. Trump, however, told reporters that the move could lead to an increase in gasoline prices for cars, adding that the administration is looking at it very seriously and may do it.The national average price for a gallon of regular gas has risen by roughly $0.40 to $4.48, compared to $4.09 a month ago, per AAA. Strikes on oil refining sites across the Middle East linked to the Iran war, as well as attacks on energy facilities in Russia and Ukraine, have steeply driven up prices in the last month.Republican Lawmakers and Oil Executives Oppose BanA chorus of Republican lawmakers and oil industry executives have spoken against the possible ban. Texas Senator John Cornyn told Semafor last week that the ban is a gimmick that will not work. Senate Commerce Committee Chairman Ted Cruz, also of Texas, said any implemented ban would be a mistake.Cruz told NBC News that it would have massive harm to the refining industry, noting that the US refines more diesel than it consumes and the ban would end up forcing refiners to reduce production, so it would backfire badly. Both Louisiana Senators, John Kennedy and Bill Cassidy, have also come out against any potential ban.Kennedy told reporters last week that everything he has read tells him it will not do any good. The gambit has also upset some MAGA donors in the oil industry, who say the move would only make a bad situation worse. Opponents argue that restricting exports would quickly fill domestic storage tanks, and once that happens, producers may be forced to pump less oil.Political and Economic Context of the Diesel Export BanThe consideration comes as Republicans face increasingly dismal odds of retaining control of Congress after this November's midterm elections. According to prediction market Kalshi, Democrats have a 92 percent chance of winning control of the House of Representatives and a 62 percent chance of taking the Senate, both all-time highs for the party.Bettors increasingly see a blue wave forming as the Iran war, gas prices, affordability concerns and more bog down Trump and the GOP. The Iran war has caused US gas prices to rise sharply in the last seven months as strikes on oil facilities in the Middle East and the US blockade on Tehran's energy have restricted global supply.Advocates for keeping the fuel stateside say it could ease costs for consumers, namely farmers and truckers who rely on gas to produce and transport food. Given the steep recent increase in fuel prices, some experts have warned those costs will be passed on to consumers at grocery or department stores.