WASHINGTON — US President Donald Trump says his administration is seriously considering restricting diesel exports from the United States as soaring global fuel prices and supply disruptions put growing pressure on consumers and businesses.
Trump’s comments come amid a widening global diesel shortage linked to disruptions in the international oil market, including the conflict involving Iran and the closure of the strategically important Strait of Hormuz.
The United States is a major supplier of diesel to international markets, exporting between 1.2 million and 1.5 million barrels per day. Energy experts have warned that a significant reduction in American exports could further tighten global supplies and push diesel prices higher in other countries.
Speaking over the weekend, Trump said his administration was “thinking about it very seriously” when asked about a possible diesel export ban.
He later indicated that the United States could ask European countries to release some of their strategic diesel reserves to help ease supply pressures.
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US Treasury Secretary Scott Bessent also called on European countries to act quickly, arguing that American farmers, truck drivers and businesses should not be left to bear the full impact of rising fuel costs.
Bessent said European partners should accelerate existing commitments and make additional fuel supplies available to address what he described as continuing disruptions.
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UK, Europe Prepare for Possible US Export Restrictions
The potential US restrictions have prompted discussions among European governments, with the United Kingdom holding talks with European partners about a possible coordinated response.
UK Energy Minister Martin McCluskey participated in discussions with European counterparts on Thursday as governments assessed the potential impact of a US diesel export ban.
A source familiar with the discussions told the BBC that preparing a coordinated response involving European Union countries and other partners was considered prudent.
However, officials stressed that Europe still has diesel reserves following an earlier coordinated release of strategic fuel stocks.
The UK government has also sought to reassure motorists and businesses that there is currently no immediate cause for concern over diesel shortages, although officials acknowledge that prices could rise further.
A European Commission spokesperson said there were “lots of calls, lots of meetings” taking place over the diesel situation, including discussions involving senior officials in the US administration.
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UK Diesel Prices Hit Record High
The crisis is already being felt at fuel stations.
Diesel prices in the United Kingdom have reached an unprecedented level, with figures from motoring organisation RAC putting the average pump price at 199.79 pence per litre, compared with 142.38 pence per litre previously.
The increase is putting additional pressure on motorists, haulage companies, farmers and businesses that depend heavily on diesel.
Unlike petrol, diesel is more difficult to replace quickly because of its extensive use in transportation, agriculture and industrial activities.
Why Diesel Supplies Are Under Pressure
The latest price surge has been linked to major disruptions in the global oil market.
The Strait of Hormuz, a crucial route for international energy shipments, normally carries around one-fifth of the world’s oil and gas supplies. Disruptions around the waterway have therefore created significant uncertainty in global energy markets.
The situation has been compounded by restrictions affecting Russian diesel exports, further tightening international supplies.
David Fyfe, chief economist at Argus Media, warned that cutting American diesel exports could have the opposite effect internationally, potentially causing global prices to rise sharply as supplies become tighter.
UK Particularly Vulnerable
The United Kingdom is particularly exposed to diesel supply disruptions because its domestic refineries do not produce enough diesel to meet national demand.
Although the country’s four refineries produce more petrol than the UK consumes, the situation is different for diesel, forcing the country to rely heavily on imports.
Official figures show that there were approximately 15.1 million diesel vehicles on UK roads at the end of June, although the number has fallen from about 15.7 million a year earlier.
Diesel cars accounted for approximately 9.8 million of those vehicles, down from 10.4 million the previous year.
Political Pressure Ahead of US Midterm Elections
The diesel debate also comes at a politically sensitive time in the United States.
The November midterm elections will determine control of Congress, with Republicans seeking to retain control of the House of Representatives and Senate.
Trump has argued that keeping additional diesel supplies within the United States could help reduce domestic pump prices and provide relief to farmers, truckers and businesses facing rising operating costs.
However, any export restrictions could have consequences beyond American borders, particularly for countries that depend on US refined fuel supplies.
With governments in Europe already discussing possible emergency measures, energy markets are closely watching Washington’s next move.
For now, no final decision has been announced on a US diesel export ban, but the prospect has added another layer of uncertainty to an already strained global fuel market.
