Marathon Petroleum stock fell over 3% as a White House diesel export ban proposal and a Jefferies downgrade to hold drove the decline.
Marathon Petroleum (MPC) closed down more than 3% on Tuesday, trading at $389.68, a drop of $12.70 per share. The decline was linked to a White House proposal to curb diesel prices and an analyst downgrade.
Treasury Secretary Scott Bessent said the Trump administration is considering a ban on U.S. diesel exports, describing the idea as a proposal still under review. He said the team is examining feasibility in terms of overall refining capacity and whether a full or partial ban would be workable.
Before the market opened, Jefferies analyst Lloyd Byrne lowered his rating on Marathon from buy to hold and set a price target of $413 per share. Byrne wrote that the current price and valuation are in line with historical levels, but noted potential threats such as a consumer pull‑back from rising diesel prices.
The outcome of the export‑ban proposal remains uncertain, and the reporting on these factors is limited to the statements noted above.