US Aims to Release European Diesel Reserves Amid Export Ban Talk

President Donald Trump has signalled that the United States may ban diesel exports, a move that could tighten global fuel supplies even further. American officials have urged European nations to release their strategic diesel stocks to keep prices in check.

Treasury Secretary Scott Bessent asked Europe to act “immediately” to free up reserves, warning that farmers, truckers and businesses are already feeling the strain of soaring fuel costs. He said the United States should not bear the burden of a shortage that is felt worldwide.

The potential ban comes at a time when diesel prices are at record highs, with the UK’s RAC reporting an average of almost two pounds per litre. The increasing cost of fuel is a major concern for voters as the US heads into the mid‑term elections.

Britain has engaged with its European partners to discuss the possibility of releasing diesel reserves if a US ban were imposed. Energy Minister Martin McCluskey spoke with counterparts, noting that the UK relies heavily on imports and that any disruption could hit the economy hard.

The urgency of the situation is compounded by the Strait of Hormuz closure amid tensions with Iran, which cuts a fifth of the world’s oil flow. Coupled with a Russian export ban, these factors have pushed global diesel prices higher, potentially inflating prices for freight and agriculture worldwide.

Trump said he was seriously considering a ban over the weekend, and he plans to travel across the country to rally Republican voters. The decision could tip the balance in the closely contested House and Senate races.

Experts warn that cutting American supply could send international prices even higher, adding pressure on businesses that rely on diesel for transport and production. The UK, which has 15 million diesel vehicles on the road, is already feeling the pinch from high fuel costs.

While the UK government stresses there is no immediate shortage, it remains prepared to coordinate with European partners to ensure stable supplies. The combined actions of the US and Europe will decide whether global diesel prices will keep climbing or find relief.