[Trump's Tax Cuts and Strategic Reserve Release Measures Struggle to Suppress Oil Prices, Energy Price Pressure Before Midterm Elections Ultimately Depends on Middle East Situation] BlockBeats News, October 9 — As the U.S. midterm elections on November 3 approach, soaring gasoline and diesel prices have become a critical economic challenge for the Trump administration. Despite a series of administrative intervention measures from the White House, practical constraints such as refining capacity, energy transportation, and global supply have limited the effectiveness of these policies. Reports indicate that U.S. diesel prices surged to a historic high of $6.52 per gallon in September, while gasoline prices rose from approximately $3 per gallon at the beginning of the year to above $4 per gallon. Recently, Trump allowed the sale of dyed diesel, originally restricted to agricultural and construction use, for road use and delayed related federal excise tax payments, theoretically saving up to 60 cents per gallon. However, these measures fail to fundamentally increase fuel supply. The White House has also pushed for the release of strategic petroleum reserves and is considering suspending federal gasoline taxes and restricting diesel exports. However, after previous releases, U.S. strategic petroleum reserves are expected to drop to about 244 million barrels, leaving limited room for further releases. Restricting diesel exports could lead to domestic storage tank saturation, reduced refinery operating rates, and even further impact gasoline supply. Chevron CEO Mike Wirth warned that restricting energy exports would tighten global supply, as the U.S. cannot isolate itself from the international energy market. Argus pricing manager David Ruisard estimated that approximately 60% of the pressure driving U.S. diesel price increases is related to shipping restrictions in the Strait of Hormuz, while the remaining 40% stems from the impact of the Russia-Ukraine conflict on refining supply chains. As Trump signals progress in negotiations with Iran and temporarily halts military actions before the election, Brent crude oil briefly fell to $102.91 per barrel, while WTI crude dropped to around $90.40 per barrel. Analysts believe that tax reductions and strategic reserve releases can only temporarily alleviate energy price pressures. If transportation disruptions in the Strait of Hormuz and geopolitical risks in Eastern Europe persist, the Trump administration may struggle to achieve sustained fuel price reductions before the midterm elections. [Original Link]