U.S. diesel prices have surged to an average of $6.52 per gallon, sparking a conflict between the Trump administration and news reports over fuel policy. Politico reported on Wednesday that the White House is preparing a 90 day ban on diesel exports to lower domestic costs ahead of the midterms, though officials later dismissed the claim as "fake news." Energy Secretary Chris Wright stated that the government will not cease exports, but suggested the administration may implement voluntary tweaks to how diesel flows from refineries to reduce upward price pressure.

The report of a ban triggered immediate volatility in energy markets, sending U.S. diesel cracks down $12.70 to $97.85 per barrel while gasoline cracks rose $2 to $47.41 per barrel. Industry critics and Energy Secretary Wright warned that a blanket ban would be an ineffective tool that could reduce overall refinery output and drive up the costs of gasoline and jet fuel. Additionally, lobbyists noted that coordinated restrictions among refiners could potentially violate antitrust laws and undermine the reputation of the U.S. as a reliable energy partner.