US President Donald Trump has signaled that he may ask European nations to release portions of their diesel reserves as his administration considers restricting American diesel exports amid soaring global fuel prices.
The proposal comes as the White House faces mounting pressure over rising energy costs ahead of the November midterm elections. Treasury Secretary Scott Bessent has called on European governments to act immediately, arguing that American farmers, trucking companies and businesses should not bear the full impact of surging diesel prices linked to disruptions in global energy markets.
“We’re thinking about it very seriously,” Trump said regarding a potential export ban. He later suggested that European countries could help stabilize supply by releasing some of their strategic diesel reserves, while Bessent urged allies to make additional fuel supplies available without delay.
The debate follows sharp increases in diesel prices after the war involving Iran disrupted energy markets and raised concerns over global fuel availability. The United States remains one of the world’s most important diesel exporters, shipping between 1.2 million and 1.5 million barrels per day. Analysts warn that any restriction on exports could tighten supplies internationally and drive prices even higher in importing countries.
European governments have already begun discussing contingency plans. The United Kingdom held talks with European partners about a possible coordinated release of diesel reserves should Washington move forward with export restrictions. Officials are assessing how strategic fuel stocks could be used to cushion market shocks and maintain energy security.
UK Energy Minister Martin McCluskey joined discussions with European counterparts on Thursday as governments explored options for responding to potential disruptions. According to sources familiar with the talks, European countries still retain reserves from a coordinated strategic fuel stock release conducted earlier this year, providing some flexibility if market conditions worsen.
Despite concerns over prices, British authorities have sought to reassure consumers and businesses that fuel supplies remain secure. A UK government spokesperson said the country continues to benefit from a diverse and resilient supply network while maintaining close engagement with international partners and the fuel industry.
The situation has become increasingly politically sensitive in the United States, where fuel prices remain a key issue for voters. With control of Congress at stake in November’s elections, the Trump administration is under pressure to demonstrate that it is taking decisive action to protect consumers and businesses from rising energy costs.
Meanwhile, diesel prices in the UK have climbed to record levels, approaching 200 pence per litre, adding further strain on households, transport operators and businesses already coping with higher operating expenses.
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