What would a US diesel export ban mean for global fuel prices?

Diesel prices have hit record highs at $6.50 per gallon due to tensions between the US and Iran, and the Russia-Ukraine war disrupting key oil and fuel trade routes. The spike has led the US administration and Republican lawmakers to consider restricting US diesel exports ahead of the midterm elections. Energy Secretary Chris Wright has been in contact with major oil refiners to gauge interest in a voluntary export restriction, following Trump’s support for such measures.