Britain has held urgent discussions with European governments over the possible release of emergency diesel reserves after Donald Trump threatened to restrict US exports.
UK officials spoke with counterparts in France, Germany, Italy and Ireland, as well as the European Commission, about whether national stockpiles could be used to increase supplies and ease pressure on fuel prices.
The talks follow a warning from the Trump administration that France and Germany should draw on their emergency inventories or face a potential American export ban. The move would intensify pressure on European countries as the US President considers measures to reduce domestic fuel costs ahead of next month’s midterm elections.
A source in a European capital said the United States had asked the European Union to release 120 million barrels of diesel over the next six months.
US Energy Secretary Chris Wright said the administration expected European countries to announce additional diesel supplies shortly. He said the US had suffered interruptions after losing exports from the Middle East and China.
“We’ve lost some diesel exports from the Middle East, although we’re restoring those, and we’ve lost diesel exports from China. So that’s a lot of interruptions,” Mr Wright told reporters.
Another US official said: “It is in Europe’s best interest to work with the United States as we pursue multiple pathways to boost the supply of refined products and lower costs for consumers.”
French officials said Emmanuel Macron and Mr Trump had not discussed the issue when they met on the sidelines of the United Nations General Assembly in New York last week. However, Mr Macron is expected to convene a video conference of G7 leaders to discuss rising fuel prices, the availability of refined products and the coordinated release of reserves with the International Energy Agency.
Europe has become more reliant on fuel from the United States after Russian imports were banned following the invasion of Ukraine. Supplies from the Middle East have also been disrupted by the US-Israeli war against Iran.
In Britain, the average price of diesel reached 199.72p a litre, according to RAC figures, exceeding the previous record of 199.09p set in June 2022. Petrol was also rising, with unleaded averaging 174.54p a litre.
The RAC said diesel prices had been driven higher by disruption to global supplies. Russian diesel exports have fallen sharply after Ukrainian attacks damaged oil refineries, increasing demand for fuel from other exporting countries and pushing up wholesale prices.
A UK Government spokesman said: “We have a diverse and resilient supply. We continue to engage with our international partners and the UK fuel industry.”
Germany’s economy ministry did not immediately respond to a request for comment, while France’s energy ministry declined to comment.
