In brief
President Donald Trump has signaled that the United States may ban diesel exports if global prices continue to climb. Treasury Secretary Scott Bessent has urged European countries to immediately release diesel reserves to support American businesses. The US supplies 1.2 to 1.5 million barrels a day worldwide, and a ban could push prices higher worldwide. Europe, including the UK, is holding talks to coordinate a response, while diesel prices hit record highs in Britain. The move comes ahead of the U.S. mid‑term elections, adding a political dimension to the crisis.
President Donald Trump has warned that the United States may stop exporting diesel if fuel prices keep climbing, adding a new threat to an already tight global market.
Following the warning, Treasury Secretary Scott Bessent urged European governments to immediately release diesel from their strategic reserves, arguing that American farmers, truck drivers and businesses would otherwise bear the cost of surging prices.
America is a major supplier of diesel, shipping between 1.2 and 1.5 million barrels per day to countries worldwide. Experts warn that a sudden ban could push international prices even higher and strain supply chains.
The European Union and its member states, including the United Kingdom, are mounting a response. Brussels has called high‑level meetings to coordinate a possible release of strategic fuel stocks, while the UK is already negotiating with European counterparts on a potential ban.
British diesel has surged to record levels, with the RAC reporting the average pump price at almost 200 pence per litre. The price rise follows the closure of the Strait of Hormuz and a recent Russian export ban, both of which have tightened global oil supplies.
With the U.S. mid‑term elections approaching, Trump’s statements may also be designed to rally Republican support by protecting domestic drivers and businesses from fuel cost spikes.
