UK and EU officials are exploring the coordinated release of strategic diesel stocks in case the US imposes an export ban that could tighten global supply. The US supplies an estimated 1.2–1.5 million barrels per day of diesel, and experts warn a ban would push international prices higher. UK pump diesel has reached a record average of 199.79p per litre, but officials say supplies remain resilient despite expected price rises. The IEA and European partners are holding meetings to assess next steps.
UK Coordinates With EU On Releasing Strategic Diesel Reserves As US Considers Export Ban
Energy Minister Martin McCluskey held talks with EU counterparts about a diesel export ban [Getty Images]
Britain has held talks with European partners about the possible release of additional strategic fuel stocks, including diesel, should the United States follow through on a threatened export ban, the BBC understands.
Discussions accelerated after US President Donald Trump signalled he was "thinking about it very seriously" when asked about a ban on diesel exports — a move intended to lower high pump prices for American motorists.
Why This Matters
The United States is a major global supplier of diesel, exporting an estimated 1.2–1.5 million barrels per day. Experts warn that restricting US shipments could tighten international supplies and push prices higher worldwide, exacerbating recent jumps already linked to wider geopolitical tensions and shipping disruptions.
UK Response And Supply Position
Energy Minister Martin McCluskey participated in a call with European counterparts to consider the implications of an export ban and to explore a coordinated response. A source familiar with the talks told the BBC it was prudent to prepare collectively, while noting that Europe still has reserves from an earlier, coordinated release of strategic stocks this year.
A government spokesperson said: "We have a diverse and resilient supply. We continue to engage with our international partners and the UK fuel industry." Officials emphasise there is no immediate risk of diesel shortages in the UK, though they expect prices to rise further if supply tightens.
Market Impact
Global petrol and diesel prices have climbed since heightened conflict in the Middle East began in February, and reports of disruptions in and around the Strait of Hormuz have added to market anxieties. At the same time, export curbs from other suppliers, notably Russia, have increased pressure on international markets.
"We're thinking about it very seriously," said President Trump about a potential export ban.
David Fyfe, chief economist at Argus Media, warned that cutting off American supply would likely cause international prices to jump significantly.
What It Means For UK Drivers
Diesel in the UK has reached record pump prices this week. The RAC reports average diesel at 199.79p per litre, up sharply from earlier figures. Diesel is harder to refine than petrol and is essential to haulage and agriculture, making demand difficult to curb quickly.
The UK is reliant on imports for diesel. While the country's four refineries produce enough petrol for domestic needs, they do not refine sufficient diesel to meet demand. At the end of June there were 15.1 million diesel vehicles on UK roads, including 9.8 million diesel cars.
Next Steps
The International Energy Agency (IEA) governing board is scheduled to meet to discuss the situation, and the European Commission says there have been numerous high-level calls on the issue, including engagement with US contacts. Governments and industry will be monitoring developments closely to limit disruption to supplies and to manage price volatility.
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