US President Donald Trump said on Wednesday that he has conversations about banning diesel exports "every day" as the White House races to curb soaring energy prices. Speaking from the Oval Office, Trump said an export ban would "have a negative impact on gasoline" prices, but could lower diesel costs. He said Russia's war in Ukraine, with strikes from either side impacting energy production and exports, is the main cause of rising diesel prices. He added: "We think we're in a very good place." Gasoline prices have jumped more than 40% over the past year and diesel climbed to a record of $6.53 a gallon a week ago, according to AAA data. The price spike is largely driven by a combination of a reduction in supply due to the Iran war and interruptions to refining, in part because of Ukraine's attacks on Russian energy facilities. The Trump administration and Republican candidates have been under pressure to bring down fuel costs as November's midterm elections approach and Trump's economic approval ratings remain under strain. Energy Secretary Chris Wright said the disruptions were more widespread. "We've lost some diesel exports from the Middle East, although we're restoring those, and we've lost diesel exports from China," he said. "So that's a lot of interruptions." He said the administration expected announcements soon from Europe about new diesel supplies. The White House has urged the European Union to release emergency diesel stocks to help ease prices, Reuters reported. The Trump administration has also weighed a blanket diesel export ban, voluntary export limits by refiners and allowing broader sales of tax-exempt diesel.
