Trump Says US May Ask Europe to Release Diesel Reserves Amid Price Surge
President Trump said the US could request European countries to release diesel reserves to curb soaring fuel prices.
In Brief
- •President Trump said the US could request European countries to release diesel reserves to curb soaring fuel prices.
- •Treasury Secretary Scott Bessent urged Europe to tap reserves immediately; US Energy Secretary Chris Wright confident Europe could help ease prices.
- •US diesel prices hit a record $6.53 per gallon, with 12 EU member states recording all‑time highs.
- •France and Germany hold more than a third of the EU’s strategic diesel reserves.
- •The potential ban could have detrimental effects on Europe’s economy, according to EU trade chief Maros Sefcovic.
Why It Matters
The US’s consideration of a diesel export ban comes amid a sharp rise in fuel prices linked to the conflict with Iran. A ban could tighten global supply, driving prices higher and impacting consumers and businesses worldwide. For Europe, the move would strain economies already hit by record diesel prices and could strain US‑EU trade relations, especially as the US government weighs the policy ahead of the midterm elections.
Key Details
- US diesel price record
- $6.53 per gallon
- EU member states with all‑time highs
- 12
- EU countries holding >1/3 of strategic reserves
- France and Germany
- US policy action considered
- possible diesel export ban
- US president
- Donald Trump
Original Reporting & Sources
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