US pressures Europe to release diesel reserves as Trump threatens export ban

Donald Trump has said he may ask European countries to release some of their diesel reserves as he considers banning US exports of the fuel.

The president's comment comes after diesel prices hit record highs on UK forecourts this week, as the Iran war continues to put pressure on the supply of refined fuels.

The UK is heavily reliant on imported diesel from the US. But with US voters also facing higher fuel costs ahead of the midterm elections in November, Trump has threatened to restrict diesel exports .

The UK has been discussing the US supply threats with the EU which is holding a meeting on Friday on the issue.

Banning exports would flood the US market with diesel, and could bring prices down significantly for American drivers.

But experts warn such a ban would put further pressure on diesel prices in other countries, unless they can access further supplies.

The US is a vital supplier of diesel to the world, exporting between 1.2 and 1.5 million barrels per day, with most of it going to Latin America.

European countries including France, the Netherlands and the UK, also import a significant amount from the US following the reduction in Russian and Middle Eastern sources of diesel.