Trump suggests US may request Europe to release diesel reserves

President Donald Trump stated that the United States could ask European countries to release diesel reserves in response to rising diesel prices linked to the war on Iran. During a press conference on Thursday, Trump indicated that his administration 'may' make such a request, following comments from Treasury Secretary Scott Bessent, who urged Europe to 'immediately' utilize its reserves. Bessent emphasized that European partners should expedite the delivery of existing commitments and make additional supplies available to address ongoing disruptions. US Trade Representative Jamieson Greer expressed optimism that France, Germany, and Italy would be open to collaborating with the United States to increase diesel availability in the market. European nations have been coordinating diesel measures, while US Energy Secretary Chris Wright expressed confidence that Europe could alleviate rising global prices by releasing emergency diesel inventories. US diesel prices recently reached a record high of $6.53 per gallon, with data from the European Commission indicating that 12 EU member states, including Italy, Belgium, Romania, and Poland, have also seen record prices. The increase in US diesel prices has led the Trump administration and Republican lawmakers to consider limiting US diesel exports ahead of the midterm elections. France and Germany together hold over a third of the EU's strategic diesel reserves. EU trade chief Maros Sefcovic commented that a US ban on diesel would be 'unexpected' and could negatively impact Europe's economy.