The diesel export ban under consideration by Donald Trump has raised fresh concerns in Europe, where officials are being pressed to prepare releases from diesel reserves if the United States restricts overseas shipments.
Trump said he may ask European governments to make additional supplies available as he weighs curbing US diesel exports. The comments come as UK pump prices hit new highs this week, with the conflict in Iran adding strain to refined fuel supplies.
The UK relies heavily on imported diesel from the United States. With American voters also facing higher fuel costs before November’s midterm elections, Trump has threatened to limit exports. US Treasury Secretary Scott Bessent urged European partners to be ready to move quickly, saying American farmers, truckers, and businesses should not bear the brunt as prices climb.
Analysts note that blocking exports would increase diesel availability at home and could sharply lower prices for US drivers. They also warn that such a step would tighten markets elsewhere unless alternative sources are secured. The United States is a key global supplier, shipping between 1.2 million and 1.5 million barrels of diesel per day.
More than half of the UK’s diesel is imported, with 31% of those imports coming from the US. Asked on Thursday whether he would request European releases, Trump said, “We may do that. They have some diesel.” Bessent had earlier posted on social media that European countries should make additional supplies immediately available.
The president is expected to travel across the country in the coming weeks to campaign for Republicans as they seek to hold the House and Senate in November’s elections.
UK diesel prices reached record levels this week, hovering just under 200p per litre, according to the RAC. UK Energy Minister Martin McCluskey joined a call with European counterparts on Thursday to discuss the potential US move.
A source familiar with the talks said it was sensible to prepare a coordinated response with other countries, including across the EU, and noted that European reserves remain from a joint release of strategic fuel stocks earlier this year. A UK government spokesperson said the country has a diverse and resilient supply and continues to engage with international partners and the UK fuel industry.
Officials have emphasized there is no immediate risk of diesel shortages in the UK, though further price increases are expected.
Diesel export ban pressures international markets
Any diesel export ban would reverberate through global fuel markets, given US export volumes and Europe’s reliance on transatlantic supplies. Policymakers on both sides of the Atlantic are weighing contingency measures to cushion consumers and critical industries if US flows are curtailed.