The United Kingdom is preparing for a possible disruption to diesel supplies from the United States as Washington considers restricting fuel exports amid a sharp rise in global energy prices.
UK Chancellor John Healey said the government is already engaging US authorities over the possibility of an export stoppage and is taking steps to protect domestic supplies.
“We’re also making the provision that we may need to and we have our own stocks in the UK,” Healey told BBC News.
His comments come as diesel prices in Britain have climbed to unprecedented levels, with the average price reaching 199.18 pence per litre, according to the RAC.
The increase has been linked to disruptions in global fuel supplies caused by the ongoing conflict involving Iran, as well as Russia’s war in Ukraine. The situation has placed additional pressure on refineries and international fuel markets.
The UK is particularly exposed to any reduction in American diesel exports, importing roughly one-third of its diesel supplies from the US.
US President Donald Trump has backed the possibility of restricting diesel exports as his administration faces pressure over rising fuel costs. Trump said over the weekend that the option was being considered “very seriously.”
However, the proposed measure remains under consideration. US Energy Secretary Chris Wright has previously indicated that a blanket export ban could create further problems for other fuel markets, while the White House has also denied reports that a 90-day ban had already been decided.
Healey said Britain is working with Washington to address the wider causes of the crisis, arguing that a diplomatic resolution to the conflict in the Middle East would provide the most significant relief.
“Fundamentally, what we need is a settlement in the Middle East,” he said.
The UK government is also facing pressure over the impact of rising fuel costs on households and businesses ahead of its October 28 Budget.
