A spike in diesel prices is hammering broad sectors of the U.S. economy – especially agriculture and shipping – and becoming a flash point ahead of the November 2026 midterm elections.
This squeeze has prompted Republicans from hard-hit farm states to call for a ban on U.S. diesel exports, with President Donald Trump reportedly weighing the idea as well. He also announced a deal on Oct. 9 to supply Russian diesel to U.S. and global markets.