Senate Leader Thune Open to Diesel Export Ban Amid Record Prices Topping $6/Gallon

Senate Majority Leader John Thune (R-SD) stated on September 15, 2026, that he is 'open to exploring' a ban on U.S. diesel exports as national average prices hit record highs above $6.27 per gallon, according to multiple reports. Thune's remarks, made to reporters at the Capitol and first detailed by Bloomberg, come amid surging industrial fuel costs driven by global refinery disruptions from the Russia-Ukraine conflict and Middle East tensions, including disruptions around the Strait of Hormuz.

Bloomberg Intelligence strategist Mike McGlone warned the prior day that the spike echoes the 2008 gasoline shock that contributed to the Great Recession, noting U.S. gasoline prices were only about 4% above their 2008 peak. EIA data cited in coverage shows U.S. distillate exports (including diesel) averaging around 1.7 million barrels per day recently.

Analysts note a U.S. ban could initially ease domestic wholesale prices on the Gulf Coast but would likely raise overseas prices further in a tight global market where the U.S. is the top diesel exporter. Broader policy options discussed include potential fuel tax suspensions, though Thune highlighted risks to the Highway Trust Fund. Market observers caution that export restrictions may prove ineffective long-term or counterproductive in free markets, with some administration officials previously signaling skepticism toward such measures.

The surge raises immediate concerns for inflation, trucking, agriculture, and consumer costs, potentially amplifying economic pressures ahead of midterms.