By GB News (Politics) | Created at 2026-09-29 04:11:53 | Updated at 2026-09-29 04:46:08
35 minutes ago
John Healey has confirmed that the Government is holding talks with Washington to stop Donald Trump's diesel export ban hitting Britons at the pumps.
Speaking to BBC News on Monday, the Chancellor acknowledged that the price of diesel in Britain had reached "extreme" levels.
"We're also making the provision that we may need to and we have our own stocks in the UK," he said.
The cost of diesel at the pumps hit an unprecedented 199.33p per litre on Monday, as recorded by the RAC, eclipsing the previous record of 199.09p set in June 2022 following Russia's full-scale assault on Ukraine.
Petrol prices continue their upward march too, with a litre now averaging 174.23p.
The President indicated over the weekend that an export ban was firmly on the table, declaring: "We're thinking about it very seriously."
The move is being billed as a means of reducing domestic fuel costs ahead of the crucial midterm elections.
Britain relies on America for roughly one sixth of its diesel supply, meaning any such ban would drive prices higher still.
On Monday, the Chancellor acknowledged that the price of diesel in Britain had reached 'extreme' levels
The Chancellor made his remarks at the Labour Party conference in Liverpool, where he stressed the strength of the transatlantic relationship.
"We work very closely with the Americans," Mr Healey said.
He pointed to diplomacy as the ultimate solution to the crisis.
"In the end, we're also working with the Americans where we can try and put in place what will solve this, or at least significantly ease it, which would be a diplomatic settlement [and] an end to the fighting with Iran," he added.
The President indicated over the weekend that an export prohibition was firmly on the table
The world's two largest wars are fuelling the surge in global energy costs.
The US and Israel's campaign against Iran has caused severe disruption to oil production and transport across the Middle East, sending wholesale fuel prices soaring.
Russia's ongoing war in Ukraine is still compounding pressure on global supply chains - more than four years after it started.
The RAC described diesel prices as having entered "uncharted territory".
The RAC described diesel prices as having entered 'uncharted territory'
PA
The automotive services firm warned that the situation highlighted "just how exposed the UK is to events occurring far away."
Mr Healey said he remained "very aware" of the burden on households as he finalised what he touted as a "breathing space" Budget, scheduled for 28 October.
A fuel duty freeze introduced by the previous Conservative administration in 2022 is set to lapse at the year's end, with a 3p rise pencilled in for January and a further 2p increase due in March.
"Fundamentally, what we need is a settlement in the Middle East. We need an easing of the pressure of costs on business, the costs on households and on ordinary families that we see at the pumps in the most extreme level today for diesel," the Chancellor said.
