UK tries to stop Trump’s diesel export ban

The UK is engaged in negotiations with US authorities to potentially halt diesel exports in response to rising prices, according to Chancellor John Healey. Diesel prices in the UK recently hit a record high due to supply disruptions from conflicts in Iran and Ukraine. US President Donald Trump has floated the idea of banning diesel exports to combat domestic price increases ahead of the midterm elections.

The UK relies on the US for about a third of its diesel imports, and a ban could further drive prices up. Healey emphasized that the UK is exploring diplomatic solutions, including an end to hostilities with Iran, to address the issue. The government is also stockpiling UK diesel supplies as a precautionary measure. Healey noted that the UK is particularly vulnerable to overseas events impacting fuel costs, and the country is bracing for a challenging Budget on October 28, with fuel duty set to increase multiple times.