Trump says US may ask Europe to release diesel reserves
Summary
President Donald Trump said the US might ask European countries to release diesel reserves to help lower rising diesel prices caused by tensions with Iran. US officials are working with Europe to increase diesel supply and ease global price increases.Key Facts
- President Trump said the US may request Europe to release diesel reserves.
- Rising diesel prices are linked to the ongoing war situation involving Iran.
- Treasury Secretary Scott Bessent urged Europe to use their diesel reserves immediately.
- US Trade Representative Jamieson Greer mentioned France, Germany, and Italy want to work with the US on getting more diesel to market.
- US Energy Secretary Chris Wright is confident Europe can help lower global diesel prices by releasing emergency stocks.
- Diesel prices in the US recently hit a record $6.53 per gallon.
- Twelve EU countries, including Italy, Belgium, Romania, and Poland, also reached record diesel prices.
- The US government and some lawmakers are considering banning diesel exports to help lower domestic prices before upcoming elections.
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