Brief
UK diesel hits £2 per litre as US export ban threat fuels price surge
Record diesel prices in Britain are linked to the Middle‑East conflict and a possible US ban on diesel exports, said officials and experts.
By Felo News Desk · Published
Diesel prices in the United Kingdom have risen to a record £2 a litre, the Independent reports, as the war in the Middle East pushes global oil costs higher and President Donald Trump threatens to bar US diesel exports.
What happened
The RAC said the price per litre is up 40.5 % since late February, when the United States launched strikes against Iran. Crude oil prices jumped from about $60 a barrel at the start of the year to over $100 a barrel after Iran effectively closed the Strait of Hormuz, a key shipping route for roughly 20 % of the world’s oil and gas.
What the reports add
Independent analysis notes that while about 40 % of Middle‑East crude now bypasses the Strait, shipments of refined products such as diesel remain below 20 % of pre‑war levels, according to data from analytics firm Kpler. The outlet also cites a statement from President Trump that the United States may ask European nations to draw on their diesel reserves as he prepares a 90‑day ban on US diesel exports.
What was said
Donald Trump told reporters, “We may do that. They have some diesel.” The Independent attributes the quote to Trump. Dr Jonathan Owens, an operations and supply‑chain expert at the University of Salford, warned that “higher diesel prices increase transport costs, placing pressure on business margins and ultimately consumer prices.”
How it came about
The price surge follows US strikes on Iran in February, which disrupted oil flows through the Strait of Hormuz. The conflict has also prompted the United States to become the world’s largest diesel exporter since 2022, a shift accelerated by reduced Russian fuel demand after the Ukraine war. US Treasury Secretary Scott Bessent has urged European countries to use existing diesel reserves, a move that Trump has signalled could be followed by an export ban.
Key facts
- UK diesel price reached £2 per litre, a record high. (independent.co.uk)
- Price rose 40.5 % since late February after US strikes on Iran. (independent.co.uk)
- President Trump said the US may ask Europe to draw on diesel reserves. (independent.co.uk)
- Crude oil price jumped from $60 to over $100 a barrel after the Strait of Hormuz closure. (independent.co.uk)
- Kpler data shows refined diesel shipments are below 20 % of pre‑war levels. (independent.co.uk)
Sources
- [1] independent.co.uk — originally reported as “What is happening with diesel – and should we be worried?”
