US diesel export threat tests fuel security planning

Donald Trump has threatened to restrict US diesel exports as he seeks to ease domestic fuel prices ahead of November’s midterm elections. He has also said he may ask European countries to release diesel reserves, while Treasury Secretary Scott Bessent urged European partners to make additional supplies available immediately.

Britain has begun discussing a co-ordinated response with European partners. Energy Minister Martin McCluskey joined a call with counterparts on Thursday, and a source familiar with the discussions told the BBC it was prudent to prepare for possible US restrictions. The source said European reserves remained from an earlier release of strategic fuel stocks.

The UK government said the country had a “diverse and resilient supply” and there was no cause for concern about diesel shortages, while warning prices were expected to rise further. RAC figures cited by the BBC put the average UK pump price at a record 199.79p per litre.

The US exports between 1.2 million and 1.5 million barrels of diesel a day, according to the BBC. Analysts cited in its report warned that cutting off those shipments could put further pressure on international prices. Supply pressures are linked in the report to disruption around the Strait of Hormuz and a Russian export ban.

Whether Washington imposes restrictions, or European countries release reserves, remains undecided. The debate highlights the competing pressure on governments to protect domestic consumers while maintaining fuel supplies to import-dependent markets.