London, Sep 28 (V7N)- The United Kingdom is in talks with the United States over a possible US ban on diesel exports, while the British government is preparing contingency measures to protect domestic fuel supplies.
UK Chancellor John Healey said the government has its own fuel reserves and is prepared to use them if US restrictions disrupt diesel supplies.
Healey made the remarks in an interview with the BBC on Monday as concerns grew over the impact of a potential US export ban on international fuel markets.
The price of diesel in the UK has reached a record high amid disruptions to global energy supplies. Reuters reported the average price at 199.18 pence per litre on Monday, surpassing the previous peak recorded in June 2022 following Russia’s full-scale invasion of Ukraine.
Petrol prices have also risen as the international energy market faces increased supply pressures linked to conflicts involving Iran, Israel and the United States, as well as the continuing war in Ukraine.
US President Donald Trump has repeatedly raised the possibility of restricting diesel exports as his administration seeks to reduce fuel prices in the domestic market.
Reuters reported that the White House is considering several measures, including a possible full export ban, voluntary limits by major refiners and wider use of tax-exempt red-dyed diesel. No final decision on a blanket export ban had been announced as of Monday.
The prospect of restrictions has raised concerns among international fuel buyers because the United States is a major diesel producer and exporter. The UK is particularly exposed because US supplies accounted for a significant share of its oil-product imports in 2025.
British authorities are therefore monitoring developments closely and preparing to draw on domestic reserves if necessary.
The potential US export restrictions come as global fuel markets remain under pressure from disruptions to refining capacity and supply routes, with governments and energy companies assessing measures to protect consumers from further price increases.
END/SMA/AJ
