US Requests EU Allies to Release Diesel Reserves Amid Rising Prices

The Trump administration has requested that European allies, particularly Germany and France, release strategic diesel reserves to help reduce fuel prices. The European Union is scheduled to hold an emergency meeting on Friday. On Thursday, the United States urged its European allies to "immediately" release their strategic reserves of diesel to help lower the rising price of the refined fuel. This request follows President Donald Trump's suggestion on Wednesday to potentially ban US diesel exports to address the price increase. According to data from the AAA motor club, average US diesel prices have increased over 70% to $6.39 per US gallon (€1.50 per liter) since the onset of the Iran war. The rising fuel costs have led to public dissatisfaction and heightened concerns within Trump's Republican Party regarding potential losses in the upcoming midterm elections. Germany's ADAC motoring club reported an average diesel price of €2.409 per liter ($10.25 per US gallon) on Thursday. US Energy Secretary Chris Wright expressed confidence that Europe could alleviate fuel prices by utilizing emergency diesel inventories, stating, "This is a time for a coordinated release of diesel stores as we go into harvest season and winter heating oil season." He emphasized the availability of diesel to the market. US Treasury Secretary Scott Bessent noted that the US had fulfilled its part of an agreement made in March among International Energy Agency members by releasing 172 million barrels of US diesel. He stated, "America is doing its part," and called on allies to take action. US Trade Representative Jamieson Greer mentioned a mutual willingness to collaborate on the diesel issue, indicating that France, Germany, and Italy have reserves available. European Union trade chief Maros Sefcovic, attending a G20 trade ministers' meeting, acknowledged discussions with Greer but did not elaborate on energy exports. He remarked that a US ban on diesel exports would be "unexpected for Europeans" and could have significant economic repercussions. France's minister delegate for international trade, Nicolas Forissier, expressed skepticism about the likelihood of a ban, emphasizing the need for collaborative solutions. Germany's Economy Ministry stated that the International Energy Agency has not yet requested Germany to release stocks. The EU's energy task force will convene an emergency meeting on Friday to address the situation, according to a Commission spokesperson.