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. The US president praised Europe for doing "a great thing" by tapping into their reserves under the threat of a halt on American supplies.
Such a ban would have left Britain competing with other countries to find an alternative source, with increased demand pushing up the already record high costs at petrol stations. Average UK diesel prices have exceeded £2 a litre for the first time.
UK diesel prices top £2 a litre
The UK imports nearly 55% of the diesel it consumes, with the US contributing around 31% of that. The average price of a litre of diesel in the UK has passed £2 for the first time.
Speaking as he departed the White House to head for Alabama on the campaign trail, the president stated he would not enforce a diesel export ban and suggested it had never been a possibility, despite repeatedly indicating in recent weeks that the measure was under consideration.
Trump praises Europe's contribution
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."
"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 questioned about the threatened prohibition, 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 continued: "Well, it (the ban) was never really on the table, but what Europe did was a great thing."
G7 measures to stabilise energy supplies
Alongside agreeing the discharge of reserves to curb the soaring fuel costs driven by the Iran war, 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. He posted on X: "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 declaration stated the discharge of reserves would commence immediately and continue for four months, with a "substantial" quantity of diesel being made available within 20 days.
Diesel costs have soared in recent months due to the disruption to global supplies caused by the US-Israeli war against Iran and the ongoing conflict between Russia and Ukraine. Rising fuel prices contributed to pushing inflation to a five-month peak in August, escalating the cost of living for households.
In anticipation of the forthcoming Budget, motoring groups have called on the Government to prolong the existing 5p reduction in fuel duty beyond the close of this year.
