US tells European allies to act 'immediately' to lower diesel prices

The United States urged its European allies to release strategic reserves of diesel immediately to help lower global diesel prices, according to a report on October 1. European Union member states were set to discuss the crisis on Friday. The Trump administration specifically called upon France and Germany to tap their stockpiles as higher fuel prices, driven by the US war on Iran, threaten their economies.

US Treasury Secretary Scott Bessent tweeted that European partners should accelerate delivery on their existing commitments and make additional supplies available. EU trade chief Maros Sefcovic warned that any US ban on diesel exports would be unexpected and could have severe repercussions for their economic performance. French and German officials expressed doubts about a potential ban, emphasizing the importance of diesel to both nations.