Trump Says US May Ask Europe To Release Diesel Reserves As Prices Surge

President Donald Trump says the US may ask European countries to release emergency diesel reserves as fuel prices surge amid disruptions linked to the war involving Iran. Washington is also considering restrictions on diesel exports, while France and Germany hold a significant share of Europe's strategic diesel stocks.

US President Donald Trump has said Washington may ask European countries to release emergency diesel reserves as the United States struggles with sharply rising fuel prices linked to the war involving Iran.
Trump made the remarks on Thursday, shortly after US Treasury Secretary Scott Bessent urged European countries to immediately tap their diesel stocks and increase supplies to the international market.

US SEEKS MORE DIESEL SUPPLIES FROM EUROPE

Bessent said the United States’ European partners should speed up existing commitments and make additional diesel supplies available to help deal with disruptions affecting fuel markets.
US Trade Representative Jamieson Greer also said France, Germany and Italy could work with Washington to increase the amount of diesel available on the market.
European governments spent Thursday discussing possible measures, while US Energy Secretary Chris Wright expressed confidence that releasing emergency inventories could help reduce pressure on global diesel prices.

US DIESEL PRICES HIT RECORD LEVELS

Diesel prices in the United States have risen sharply in recent weeks as disruptions linked to the Iran war affect energy markets.
US diesel prices reached a record $6.53 per gallon a week earlier. The increase has also been felt in Europe, with European Commission data showing that 12 EU member states had recorded new record-high diesel prices.
Countries including Italy, Belgium, Romania and Poland were among those affected.

US CONSIDERS RESTRICTING DIESEL EXPORTS

The sharp increase in domestic diesel prices has prompted the Trump administration and Republican lawmakers to consider restricting US diesel exports.
Such a measure would be aimed at keeping more fuel within the United States and easing pressure on domestic prices ahead of the country's upcoming midterm elections.
However, limiting US diesel exports could also affect international fuel supplies, particularly in countries that depend on American diesel.

FRANCE AND GERMANY HOLD LARGE DIESEL RESERVES

France and Germany together hold more than one-third of the European Union's strategic diesel reserves.
EU Trade Commissioner Maros Sefcovic has warned that a US decision to restrict diesel exports would be unexpected and could have negative consequences for the European economy.
The situation has therefore created a difficult balance for governments on both sides of the Atlantic, with countries trying to protect domestic fuel supplies while avoiding additional disruption to the global market.

ENERGY MARKETS REMAIN UNDER PRESSURE

The developments highlight how the conflict involving Iran is affecting fuel markets far beyond the Middle East.
Governments are now considering emergency reserves, export restrictions and increased international supplies as they attempt to prevent further price increases.
For motorists, transport companies, farmers and industries that rely heavily on diesel, sustained high prices could increase operating costs and eventually push up the prices of goods and services.