Trump’s energy chief asked Europe to release more than a third of its diesel reserves
Chris Wright's detailed proposal is being sold as a way to bring down fuel prices without banning U.S. exports.
The Trump administration has proposed to European governments to release a significant portion of their strategic diesel reserves, according to four officials across both US and European governments. U.S. Energy Secretary Chris Wright suggested that EU nations release 120 million barrels of diesel over 180 days, which would constitute more than a third of the approximately 315 million barrels held in reserve by EU countries.
This move is aimed to alleviate high fuel costs and provide a supply boost to counter global price hikes. Germany, France, Italy, Spain, and Poland, the countries with the largest diesel reserves, are among those approached regarding the proposal. While the EU has not confirmed receiving the request, Commissioner Anna-Kaisa Itkonen stated that any releases would only be agreed upon through the International Energy Agency.
President Trump, however, expressed that a diesel export ban was still under consideration, though he acknowledged potential negative impacts on gasoline prices.
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