Donald Trump is now 'very seriously' considering a diesel export ban as gas prices hit record highs – despite his top cabinet officials saying for months the move was off the table. 'The blunt tool of banning diesel exports definitely doesn't work,' Energy Secretary Chris Wright said at an event last week. As the President's top energy official responsible for oil and gas production and the management of the Strategic Petroleum Reserve, Wright has warned that the ban 'would put upward pressure on gasoline prices and jet ⁠fuel prices'. He said in May that the ban was then 'absolutely' ruled out, while Interior Secretary Doug Burgum called the export curbs 'bad on all accounts' in the same month. But when Trump was pressed on the ban on Sunday during a golf tournament in Illinois, he said that his administration is 'thinking about it very seriously.' 'That can oftentimes lead to a little bit of an increase on gasoline for cars, so we're looking at it very seriously. We may do it,' he added, noting the pain the policy could provoke at the pump.

A chorus of Republican lawmakers have spoken in unison against the possible ban, with some warning it would be a 'mistake' that could 'backfire badly.' The gambit has upset some MAGA donors in the oil industry, too, who have said the move would only make a bad situation worse. The U-turn comes as US diesel prices have hit record highs of around $6.50, jumping nearly $3 compared to this time last year when a gallon cost $3.69, according to the American Automobile Association.

Strikes on oil refining sites across the Middle East resulting from the Iran war, in addition to the attacks on energy-producing facilities in Russia and Ukraine, have steeply driven up prices in the last month. 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. Trump's recent consideration of a diesel export ban comes as Republicans face increasingly dismal odds of retaining control of Congress after this November's midterm elections. Democrats have a 92 percent chance of winning control of the House of Representatives, according to prediction market Kalshi. In the Senate, Democrats have a 62 percent chance of taking control.

Both are all-time highs for the party's chances, showing that bettors increasingly see a blue wave forming as the Iran war, gas prices, affordability concerns and more bog down Trump and the GOP. The gambit is a precarious one for the President. Republican lawmakers and oil industry executives, who are often MAGA-aligned donors, have warned the administration against the ban that is now under strong consideration. Texas Senator John Cornyn told Semafor last week that the ban is 'a gimmick' that 'won't work.'

Senate Commerce Committee Chairman and fellow Texan Ted Cruz said any implemented ban would be a 'mistake.' 'It would have massive harm to the refining industry,' he told NBC News. 'We refine more diesel than we consume, and it 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. 'Everything I've read tells me it won't do any good,' Kennedy told reporters last week. Since the US produces more diesel than the country uses, opponents of the ban have argued that the policy would quickly fill domestic storage tanks, and once that happens, producers may be forced to pump less oil.

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. 'Americans are hurting from rising diesel costs driven by an unprecedented disruption to global refining capacity,' Mike Sommers, President and CEO of the American Petroleum Institute, said in a statement.

'The answer is more supply and more flexibility – not new restrictions that risk making a difficult situation worse.' Trump donor and oil executive Dan Eberhart told the Wall Street Journal: 'I think we’ve invested too much in developing customers overseas, and this is the wrong signal.' A spokesman for the Department of Energy told the Daily Mail: 'The Trump administration, including Secretary Wright, continue to work closely together as they consider a variety of options to help lower energy costs for the American people. Ultimately, President Trump will make the final decisions.' The White House was contacted for comment.