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U.S. pressures European allies to release diesel reserves as Trump considers export ban
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The Trump administration ramped up a pressure campaign Thursday to persuade European allies to release diesel from national emergency stockpiles.
Key facts
- The average U.S. price of diesel has soared by 70% since the war with Iran began, hitting $6.38 per gallon Thursday, according to AAA
- On July 8, Russia banned the export of diesel to preserve its domestic supply — It would also land at a moment when average U.S. prices for unleaded gas remain almost 50% higher than they were on Feb. 28, the day the U.S. and Israel attacked Iran
- The Trump administration ramped up a pressure campaign Thursday to persuade European allies to release diesel from national emergency stockpiles
Summary
The average U.S. price of diesel has soared by 70% since the war with Iran began, hitting $6.38 per gallon Thursday, according to AAA. Less than five weeks before the U.S. midterm elections, Republicans are eager for any way to lower domestic fuel prices. “Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions” to energy markets, Treasury Secretary Scott Bessent said Thursday on X. Shortly after Bessent’s post, Trump told reporters “we may” request that Europe release some of its emergency reserves.