Crude oil prices are trading near $100 per barrel. Former President Trump suggested a ban on diesel exports to lower domestic fuel costs.
U.S. diesel prices have reached record highs, contributing to broader inflation. The U.S. currently serves as the world's largest diesel exporter.
Analysts warn that restricting 1.5 million barrels of daily exports could increase global prices. Such a ban may force domestic refiners to cut production. This shift could reduce the supply of gasoline and jet fuel while disrupting global markets.