Understand
UK in talks with EU partners to release strategic fuel reserves amid US diesel export threat
Overview
The UK is in discussions with European Union partners to coordinate the potential release of strategic fuel reserves, including diesel, following threats from US President Donald Trump to ban US diesel exports. Diesel prices in the UK have reached record highs, nearing 200p per litre, driven by global supply pressures including the closure of the Strait of Hormuz and previous Russian export bans. While the UK government stresses there is no current diesel shortage, officials are preparing a coordinated response with international allies.
Key points
- The UK is holding talks with EU partners to consider releasing strategic fuel reserves, including diesel.
- The discussions follow US President Donald Trump's threat to ban US diesel exports to lower domestic prices.
- UK diesel prices have hit record highs, hovering just under 200p per litre according to the RAC.
- Energy Minister Martin McCluskey discussed the potential US export ban with European counterparts.
- Global fuel prices have surged due to disruptions from the US-Israel war in Iran and the closure of the Strait of Hormuz.
- The UK relies heavily on diesel imports because its domestic refineries do not produce enough to meet national demand.