Energy Secretary Signals Move To Boost Diesel Supply Amid Price Surge

The Trump administration is preparing measures to ease rising fuel costs by increasing diesel supply, Energy Secretary Chris Wright said, as reported by CNBC. He indicated that additional diesel could soon enter the market to address sharp price increases.

Diesel prices have climbed nearly 40 percent to $5.29 per gallon, driven by supply disruptions linked to the ongoing U.S. war against Iran.

Fox Business: “Can we reopen the Strait of Hormuz to all and allow the free flow of energy in 5 days?”

Energy Secretary Chris Wright: “That could happen if a peace agreement is reached, but the military has just gone swimmingly well. We’ve rapidly destroyed their army, their… pic.twitter.com/PihR0fTZMV

— RedWave Press (@RedWavePress) March 23, 2026

According to the report, the administration is also releasing oil from the Strategic Petroleum Reserve, with flows already underway and expected to reach up to 1.5 million barrels per day.

Wright emphasized that the U.S. will not restrict diesel exports, arguing that limiting trade would hurt domestic refining and global supply.

The report noted that tanker disruptions in the Strait of Hormuz have intensified the crisis, even as President Donald Trump signaled progress in talks with Iran.

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tippinsightsTIPP Staff