Trump Administration Considers Asking European Nations to Release Diesel Reserves to Combat Surging Prices

Gas prices exceeding $7 per gallon for regular petrol and $8 per gallon for diesel are visible at a Mobil gas station in Los Angeles, on September 23, 2026 [AFP]. President Donald Trump announced that the US might request European nations to release diesel reserves as Washington attempts to control escalating diesel prices driven by the conflict involving Iran.

Speaking to reporters on Thursday, the US president indicated his administration "may" ask European countries to release diesel stocks, following statements from Treasury Secretary Scott Bessent urging Europe to "immediately" tap its reserves. Treasury Secretary Scott Bessent stated in a social media post that European partners should accelerate delivery on existing commitments and make additional supplies available to counter ongoing disruptions.

Previously, US Trade Representative Jamieson Greer expressed belief that France, Germany, and Italy would welcome a cooperative path forward with the United States regarding methods to increase diesel supply in the market. European capitals spent Thursday coordinating diesel measures, while US Energy Secretary Chris Wright expressed high confidence that Europe could assist in alleviating soaring global prices through the release of emergency diesel inventories.

US diesel prices have climbed significantly, reaching a record $6.53 per gallon a week prior, concurrent with European Commission data indicating 12 EU member states recorded new all-time highs, including Italy, Belgium, Romania, and Poland. This price surge led the Trump administration and Republican lawmakers to weigh restrictions on US diesel exports ahead of upcoming midterm elections.

Data from the Reuters news agency indicates that France and Germany maintain more than a third of the EU's strategic diesel reserves. Meanwhile, EU trade chief Maros Sefcovic remarked that a US diesel ban would be unexpected and would negatively impact Europe’s economy.