US President Donald Trump may stop US diesel exports. He wants to lower diesel prices in the US before the November elections. He may also ask European countries to use some of their stored diesel. US Treasury Secretary Scott Bessent said Europe should do this now. The US sends about 1.2 million to 1.5 million barrels of diesel to other countries each day.

Diesel prices have risen because of the war in Iran, which started in February. The Strait of Hormuz is closed. About one fifth of the world’s oil and gas normally moves through this sea route. Russia has also stopped diesel exports, and China may keep more fuel for its own people. These problems mean that the world has less diesel.

The UK and other European countries talked on Thursday about what to do if the US stops exports. The UK says it has enough fuel, but prices may rise again. UK diesel now costs about 199.79 pence per litre, a record high. The UK needs diesel from other countries because its own oil factories do not make enough. A US export ban could make diesel much more expensive in Europe and other parts of the world.