UK Weighs Releasing Emergency Diesel Stockpiles as Trump Threatens US Export Ban

Britain has opened discussions with its European allies about the possibility of releasing additional strategic fuel reserves, including diesel, should global supplies come under further strain, the BBC has learned. The talks reflect growing unease in Whitehall over the prospect that the United States could halt diesel shipments abroad, a move that would ripple through international energy markets already stretched by conflict and disruption.

The conversations follow a warning from President Donald Trump that he is considering banning diesel exports from the US in an attempt to bring down record prices at American filling stations. "We're thinking about it very seriously," Trump said at the weekend, signalling that his administration is prepared to prioritise domestic consumers over international supply commitments.

The pressure intensified on Thursday when Trump suggested he might ask European nations to tap into their own diesel reserves. His Treasury Secretary, Scott Bessent, went further, urging European partners to act without delay. In a social media post, Bessent said allies should "accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions." He added that "American farmers, truckers, and businesses should not be left carrying the burden of a global diesel shortage."

Energy Minister Martin McCluskey joined a call with European counterparts on Thursday to discuss the potential consequences of a US export ban. According to a source familiar with the discussions, it was considered prudent to prepare a coordinated response with other countries, including EU member states. The same source noted that some European reserves remain from a coordinated release of strategic fuel stocks earlier in the year, suggesting that any fresh action would build on existing contingency planning.

The UK government has sought to reassure the public. A spokesperson said Britain has a "diverse and resilient supply" and that it continues to engage with international partners and the domestic fuel industry. Ministers have stressed there is no cause for alarm about potential diesel shortages, though they acknowledge prices are likely to climb further. The European Commission also confirmed that discussions are underway, with a spokesperson describing "lots of calls, lots of meetings" on the diesel situation, including high-level contacts with the US administration.

The backdrop to these talks is a global energy market that has been severely destabilised since the outbreak of the US-Israel war in Iran in February. The closure of the Strait of Hormuz, a chokepoint that normally carries around a fifth of the world's oil and gas, has driven up the cost of products derived from crude. An export ban from Russia, another major diesel supplier, has compounded the strain on prices.

Diesel prices in the UK reached an all-time high this week, hovering just below 200p per litre. Figures from the RAC, a motoring organisation, put the average pump price at 199.79p per litre, a steep rise from 142.38p previously. The surge has added to cost pressures on households and businesses alike, with hauliers and farmers particularly exposed because diesel is essential to their operations.

The United States occupies a pivotal role in the global diesel market, exporting between 1.2 million and 1.5 million barrels per day. Experts have cautioned that cutting off those shipments would likely send international prices soaring. David Fyfe, chief economist at Argus Media, said that restricting American supply would probably have precisely that effect, undermining the stated goal of easing costs for US consumers by disrupting the wider market.

Trump's argument is that keeping surplus barrels at home would lower pump prices domestically, offering swift relief to drivers, truckers and businesses ahead of the midterm elections. However, the interconnected nature of fuel trading means that such a move could provoke retaliatory measures or leave allies scrambling for alternative sources.

The UK is especially vulnerable because of its reliance on imported diesel. Although the country's four refineries produce more than enough petrol to satisfy domestic demand, they do not generate sufficient diesel to meet national needs. This structural shortfall means Britain must source significant volumes from abroad, making it sensitive to decisions taken in Washington, Moscow and Brussels.

The number of diesel vehicles on UK roads stood at 15.1 million at the end of June, according to the Department for Transport, down from 15.7 million a year earlier. Within that total, diesel cars fell to 9.8 million from 10.4 million over the same period. The decline suggests a gradual shift in the vehicle fleet, but the sheer scale of diesel dependence in haulage and agriculture means demand is difficult to reduce quickly.

Diesel is harder to refine than gasoline, which limits how swiftly supply can be increased when markets tighten. Because it powers the freight industry and much of modern farming, demand is relatively inelastic. These factors help explain why diesel prices have outpaced other fuels during the current crisis and why governments are treating the threat of a US export ban with such seriousness.

For now, the UK's strategy appears to be twofold: prepare a coordinated reserve release with European partners if needed, while publicly emphasising that supply remains secure. Whether that stance holds will depend on decisions in Washington and on how far the conflict in Iran continues to disrupt the arteries of global energy trade.