Possible US diesel export ban raises alarm in the UK
Disagreements are reportedly brewing within the Trump administration over a possible ban on diesel fuel exports meant to lower domestic prices, a move that has alarmed Britain, which relies heavily on US fuel supplies.
According to the British newspaper The Times, there is disagreement within Donald Trump's administration over whether to ban diesel fuel exports. White House advisers have presented Trump with several options for lowering domestic fuel prices, and one option under consideration is restricting exports in order to push down prices on the home market.
No final decision has been made yet. Some Republicans reportedly support export restrictions, fearing that high fuel prices could hurt their chances of re-election in November. Meanwhile, oil industry figures, including Energy Secretary Chris Wright and Treasury Secretary Scott Bessent, have warned that a ban could actually backfire and drive fuel prices higher instead.
Concern in Britain
The possible ban has also caused concern in the United Kingdom, which last year sourced around 30% of its imported diesel fuel from the United States. Due to the conflict in the Middle East, the US share of Britain's diesel imports has since risen significantly.
According to recent analysis, the UK's diesel fuel reserves would currently last about 40 days. By comparison, France, Italy, Spain and Germany hold much larger reserves, sufficient for more than 200 days.
British ministers told The Times this week that they are concerned about a potential fuel shortage should the US impose an export ban. Prime Minister Andy Burnham has also discussed the matter with representatives of the Trump administration.
The fuel crisis has been aggravated by the war with Iran, which has now continued for seven months. In Britain, diesel prices have risen above two pounds per litre, and Prime Minister Burnham is facing pressure to cut the fuel excise duty.
