UK discusses European diesel reserves amid US threat to restrict supplies
British ministers have discussed releasing emergency diesel reserves with counterparts in the European Commission, Germany, France, Italy and Ireland after the Trump administration urged European countries to draw down stockpiles. The talks come as fuel prices rise and officials weigh immediate relief against the need to preserve supplies for winter.
The UK is discussing the possible release of emergency diesel reserves with European allies after the United States threatened to restrict diesel exports unless European countries draw down stockpiles to ease rising fuel prices. Ministers held calls with counterparts from the European Commission, Germany, France, Italy and Ireland. The discussions followed a warning from the Trump administration that Germany and France should release reserves or face a US export ban.
A US official said Europe should work with the United States to increase refined-product supplies and reduce costs for consumers. US Energy Secretary Chris Wright said the administration expected European announcements on new diesel supplies. The effect on British fuel availability remains uncertain.
Europe produces about 70% of the diesel it consumes and holds fuel in reserve, meaning stations are unlikely to run dry. However, experts cited in the source material warned that countries competing for supplies on the global market could push prices higher. The UK is particularly exposed because it does not refine enough diesel to meet domestic demand.
About one-third of its diesel imports last year came from the United States. The average UK diesel price reached 199.72 pence a litre on Wednesday, according to the RAC. Releasing reserves would also reduce the stocks available if the energy crisis worsens over winter.
The source material links the disruption to the war in Iran, which has affected supplies through the Strait of Hormuz and pushed Brent crude above $101 a barrel on Thursday, compared with about $72 in February. The UK Government said it had a diverse and resilient supply and remained in contact with international partners and the fuel industry. Energy Secretary Miatta Fahnbulleh has raised concerns with Mr Wright, while the government has also been engaging the United States over the proposed ban.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.