Britain in talks over releasing emergency diesel reserves – what we know

WorldBusiness & Finance
1 Oct 2026 • 9:35 PM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

Britain in talks over releasing emergency diesel reserves – what we know

  • European nations including the UK held emergency talks over potential diesel stockpile releases following US export ban threats from Donald Trump.
  • US President Donald Trump urged European allies to draw down emergency reserves to ease global fuel prices driven up by conflicts involving Iran and Ukraine.
  • UK Chancellor John Healey confirmed the government is taking the export threat seriously and noted that the UK holds its own diesel reserves.
  • Average UK diesel prices hit a record high of 199.18p per litre, with the UK relying on the US for approximately one third of its diesel supply.
  • British officials are negotiating with Washington regarding the potential ban, with Andy Burnham stating he would seek an exemption for the UK.

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