In a recent update, U.S. President Donald Trump threatens US diesel export ban unless European allies release emergency fuel stocks.
As surging fuel costs and geopolitical conflict strain domestic markets, Washington urges European allies to tap emergency stockpiles or face severe restrictions on American fuel shipments.
The United States has pressured European allies, particularly France and Germany, to immediately release 120 million barrels of strategic diesel reserves over the next six months to cool surging global fuel prices.
According to BBC, the Trump administration has floated the prospect of a temporary U.S. diesel export ban unless European capitals tap their emergency stockpiles.
Global fuel costs have climbed sharply amid ongoing disruptions linked to the conflict involving Iran and the disruption of vital trade lanes.
Diesel prices in the UK hit record highs this week and are hovering just under 200p per litre, according to motoring organisation the RAC.
U.S. Treasury Secretary Scott Bessent urged European partners to accelerate deliveries and make additional fuel supplies immediately available to offset domestic market pressures.
The US has threatened to restrict diesel exports after the war in Iran caused sharp price rises for US voters ahead of the midterm elections in November.
On Thursday, the UK held talks with European partners about the potential release of diesel reserves in response to any ban.
Banning exports would flood the US market with diesel, and could bring prices down significantly for American drivers.
But experts warn such a ban would put further pressure on diesel prices in other countries, unless they can access further supplies.
The US is a vital supplier of diesel to the world, exporting between 1.2 and 1.5 million barrels per day.
Over half of the UK’s diesel is imported, with 31% of the imports coming from the US.
When Trump was asked whether he would call on European countries to release some of their own diesel reserves.
“We may do that. They have some diesel,” he said.
An earlier post from Bessent on social media said European countries should “make additional supplies immediately available”.
The European Commission and representatives from key member states convened emergency talks to evaluate the U.S. demand, which risks deep economic strain across Europe given the continent’s heavy reliance on American refined petroleum products.
