The White House doesn’t plan to ban the export of oil and gas, a Trump administration official said March 19, following a meeting between Vice President JD Vance and oil executives. 

“Oil and gas export restrictions are not under consideration,” the official said.

The meeting, held at the American Petroleum Institute, comes as President Donald Trump faces intense political pressure to address rising fuel prices because of the U.S.-Israel war on Iran. It also featured other key administration officials including Energy Secretary Chris Wright. 

Thanks to @POTUS, the United States is the world’s top oil and natural gas producer. We are also the largest natural gas exporter and a top oil exporter. To be clear, the Trump administration has no plan to implement restrictions on oil and gas exports.

— Secretary Chris Wright (@SecretaryWright) March 19, 2026 

November’s midterm elections will hinge in large part on Americans’ attitudes toward the cost of living, and polls show the president is getting poor marks for his handling of the economy. The average price of a gallon of gasoline reached $3.88 on March 19 according to the American Automobile Association, up nearly $1 dollar from a month ago before the war began. 

A ban on oil exports could upend global markets, discourage shale drilling and end up not helping American drivers that much, experts say. Congress lifted a 40-year-old ban on crude oil exports in 2015, reshaping global flows, shifting geopolitical power and disrupting entire economies. The U.S. has emerged as the world’s largest oil producer and its crude has reached more than 50 countries, with shipments often surpassing those of any OPEC nation aside from Saudi Arabia.

While limiting the U.S. export of refined products such as gasoline and diesel could ensure that more supplies exist for consumers in the country, experts have warned the move could backfire and have unintended consequences, such as leading U.S. Gulf Coast refineries to slash production, resulting in higher prices. 

“Banning refined products or crude exports would be counterproductive for lowering pump prices, incite panic buying, and trigger further price spikes in global markets,” said Bob McNally, president of Rapidan Energy Group, a Washington-based consulting firm. “Export bans would also destroy the U.S. reputation as a reliable ‘arsenal of energy’ and discourage long-term U.S. energy investment.”

Crude oil prices have soared since the Iran war began February 28. Tanker traffic through the Strait of Hormuz — a narrow waterway in the Persian Gulf that handles around a 20% of global seaborne oil trade and liquefied natural gas supply — has plunged. Supply of refined petroleum products, including diesel, gasoline, jet fuel, shipping fuel and naphtha — used to make plastics and road fuel — has also been jolted. 

Meantime, escalating attacks on energy infrastructure in the Middle East, including an Iranian missile strike on the world’s largest liquefied natural gas plant in Qatar, has raised the specter of long-term inflation pressures. 

The idea of a ban on exports of refined products was considered during the administration of President Joe Biden in 2022 after Russia’s invasion of Ukraine, but drew criticism from domestic oil companies and refiners who said restricting exports would disrupt global markets, harm national security and actually raise fuel prices domestically.