Trump eyes European diesel reserves as prices soar
U.S. President Donald Trump has said Washington may ask European countries to release emergency diesel reserves as it seeks to curb fuel prices driven higher by the war with Iran, reports a Qazinform News Agency correspondent.
“We may do that. They have some diesel,” Trump told reporters on Thursday. His remarks came as Treasury Secretary Scott Bessent urged European allies to make additional supplies available immediately.
“Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions,” Bessent wrote on his official X account.
“American farmers, truckers, and businesses should not be left carrying the burden of a global diesel shortage,” he added.
U.S. Trade Representative Jamieson Greer said he believed France, Germany and Italy were willing to cooperate on bringing more diesel to market. Energy Secretary Chris Wright also expressed confidence that European reserve releases could help ease global prices.
U.S. diesel prices reached a record $6.53 per gallon last week. European Commission data showed record prices in 12 EU countries, including Italy, Belgium, Romania and Poland. The Commission publishes national fuel prices in its Weekly Oil Bulletin.
The price surge has prompted Washington to consider restricting diesel exports ahead of November’s midterm elections.
Earlier, Qazinform News Agency reported that the average diesel price in the United States had exceeded $6 per gallon for the first time amid mounting pressure on global fuel supplies.