US urges EU allies to release diesel reserves amid soaring prices
The United States asked its European allies to release strategic diesel reserves immediately, and Treasury Secretary Scott Bessent urged EU member states to speed up existing commitments and provide additional supplies. EU countries are scheduled to meet with the European Commission on Friday to discuss a coordinated response to the rising fuel costs.1
U.S. diesel prices have risen more than 70 percent to $6.39 per gallon since the start of the Iran war, prompting the request for France and Germany to tap their reserves. President Donald Trump also floated the idea of banning diesel exports as part of efforts to curb the price surge.1