Donald Trump has claimed a diesel export ban was "never really on the table" after the UK and other G7 nations agreed to release 100 million barrels of fuel and oil from emergency reserves under White House pressure. The US president declared that Europe had done "a great thing" by tapping into their stockpiles.
G7 agrees to release reserves
The G7 nations, including the UK, agreed to release 100 million barrels of fuel and oil from emergency stocks after the US threatened a diesel export ban. Such a ban would have left Britain scrambling to secure an alternative source, with heightened demand pushing already record-breaking pump prices even higher.
Average UK diesel prices have surpassed £2 a litre for the first time, according to the RAC. The UK imports nearly 55% of the diesel it uses, with the US accounting for around 31% of that.
Trump's remarks on the ban
Speaking as he departed the White House en route to Alabama for a campaign appearance, Mr Trump insisted he would not impose a diesel export ban, suggesting it had never genuinely been under consideration, despite repeatedly indicating in recent weeks that the measure was being actively explored.
Mr Trump said: "Europe has a lot of diesel, and they're going to be making a major world contribution, and so are we. And we're not going to be doing the export ban. We're going to be doing what we're supposed to do... We are going to have a lot of oil."
He added: "We have a very good relationship with Europe, and they wanted to do it because they have a lot of diesel... I said 'it would be great if you put it out to the market'. They did it."
When pressed on the threatened ban, he continued: "We were never going to do it. I don't think we were. Europe was great because they're putting a lot of diesel oil out there. They have diesel. They use diesel disproportionately more than most, and they did a great job." He further stated: "Well, it (the ban) was never really on the table, but what Europe did was a great thing."
Impact on fuel prices and government pressure
Alongside agreeing to release reserves in order to curb the soaring fuel prices driven by the Iran conflict, the G7 nations also pledged "to refrain from energy export restrictions". Foreign Secretary Ed Miliband deputised for Andy Burnham on Friday's leaders' call while the Prime Minister attended his father's funeral. Posting on X, he wrote: "Today members have agreed co-ordinated measures to stabilise energy supplies, build resilience in supply chains and shield households and businesses from price shocks."
The G7 statement confirmed that the release of reserves would commence immediately and continue for four months, with a "substantial" quantity of diesel to be made available within 20 days. Diesel prices have surged sharply in recent months owing to the disruption to global supplies triggered by the US-Israeli war against Iran and the continuing conflict between Russia and Ukraine. Rising fuel costs contributed to pushing inflation to a five-month peak in August, increasing the financial burden on households. With the Budget approaching, motoring groups have called on the Government to prolong the existing 5p reduction in fuel duty beyond the end of this year.
