Don’t worry about diesel shortages, Government says, as US urges use of reserves
People should not worry about diesel shortages, the Government has said, amid pressure from the US for European countries to use their reserves.
People should not worry about diesel shortages, the Government has said, amid pressure from the US for European countries to use their reserves.
Transport minister Keir Mather said Britain’s supply of diesel was “robust” and “resilient” and the country had a wide range of sources.
Britain joined crisis talks with Brussels on Thursday, as they discussed whether to release fuel stocks amid rocketing prices.
US Treasury secretary Scott Bessent said European countries should “immediately” begin to use their reserves.
Earlier on Thursday US President Donald Trump had told reporters he “may” call for European countries to draw down from their reserves.
Diesel prices have soared in recent months because of the disruption to global supplies caused by the US-Israel war against Iran and the ongoing conflict between Russia and Ukraine.
The UK imports nearly 55% of its diesel. The US provides nearly a third of that amount.
Mr Mather told Sky News on Friday: “I want to reassure people this morning that the United Kingdom has got a diverse range of supply when it comes to diesel.
“We have resilience built into our system for that reason.
“We are working very closely with our US counterparts to stress the importance of that relationship, and the importance of sustaining flows of diesel around the world, but also working through international fora in the International Energy Agency and partners in Europe from whom we get a proportion of our diesel imports as well.”
He added: “Although prices have gone up at the pump, the Government is aware of that and the freeze in fuel duty is still in place.
“People shouldn’t be concerned about shortages because of the inherent resilience that is built into that system.”
The average price of a litre of diesel in the UK stood at 199.79p on Thursday, according to figures compiled by the RAC.
The previous record high was 199.09p, in June 2022, after Russia’s invasion of Ukraine.
The UK, as a member of the International Energy Agency, is required to keep oil stocks equal to at least 90 days of net oil imports in reserve.
It is thought these can be used to respond to severe supply disruptions in the global market.
Mr Trump has said he was “thinking” about introducing a ban on exports of US diesel.
This would force Britain to compete with other countries for an alternative.
In a post on X on Thursday, Mr Bessent said: “Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions.
“American farmers, truckers, and businesses should not be left carrying the burden of a global diesel shortage. America is doing its part.
“We look to our allies to match their commitments with action.”
EU member states will meet the European Commission on Friday to discuss the issue.
Mr Mather was asked by Nick Ferrari on LBC whether he agreed with Mr Trump about Europe using their diesel reserves.
He said: “We’re working closely with our European partners on diesel supply. It means we’re continuing those discussions about how we retain our resilience and robustness of our supply chains.
“President Trump is welcome to make those comments, we’ve got to focus here at home about ensuring that we have diversity of supply into our economy.
“Our European partners are absolutely central to that, particularly the flows of diesel coming through the Netherlands.”
Published: by Radio NewsHub