As the fallout from the Iran conflict continues, the price of diesel has soared to record highs in the UK, Europe and US. With his country facing an increase of 70% in costs compared with this time last year, Donald Trump is threatening a ban on US diesel exports to keep costs low for American consumers. But the plans have been met with alarm – the UK is holding talks with US counterparts to try to block the move, which France says would be ‘catastrophic’ if introduced. Lucy Hough speaks to energy correspondent Jillian Ambrose – watch on YouTube
https://www.theguardian.com/news/video/2026/sep/29/diesel-export-ban-will-trump-push-global-energy-prices-even-higher-the-latestDiesel export ban: will Trump push global energy prices even higher? – The Latest
A ban sounds tough but might backfire. Restricting exports often makes domestic producers less efficient long-term.
Will this actually lower pump prices, or just shift the crisis elsewhere? The economics are murky here.
Europe calling it catastrophic is predictable. They always panic when the US prioritizes its own economy.
Seventy percent cost increases are brutal. I hope they find a compromise before winter hits.
Keeping diesel home helps Americans, but who pays when global supply tightens? Classic zero-sum thinking.