The White House is preparing a 90-day ban on diesel exports, with the legal basis for such an action still unclear. However, President Donald Trump is inclined to propose this measure before the end of the week, according to sources familiar with the matter.

If implemented, this would mark the most aggressive step by the Trump administration to date in addressing soaring fuel prices, highlighting the political pressure facing Republicans as the November midterm elections draw near. Earlier this week, Trump indicated he had urged his advisors to support halting U.S. diesel exports.

Energy industry insiders are strongly opposed to potential export restrictions, arguing that such measures would only suppress prices in the short term, but could ultimately drive fuel costs even higher in the aftermath. According to data from the American Automobile Association (AAA), U.S. retail diesel prices have surged to record highs, breaking past $6.50 per gallon. Meanwhile, U.S. diesel futures dropped more than 7% at one point before paring some of those losses. In contrast, European diesel futures moved higher.