US wants Europe to do this now to cut diesel prices
On Thursday, the United States urged its European allies to release strategic reserves of diesel immediately in order to lower global diesel prices, according to a post by US Treasury Secretary Scott Bessent on social media. EU member states are to convene on Friday to deliberate on a coordinated response to the escalating fuel prices, as per a Commission spokesperson.
The Trump administration is particularly pressing France and Germany to utilize their strategic reserves of diesel to curb the surge in fuel prices triggered by the US war on Iran. President Donald Trump has even floated the idea of banning diesel exports. High energy costs pose a threat to Trump's Republican party in the upcoming midterm elections, which are scheduled for the following month.
EU Trade Chief Maros Sefcovic cautioned that a US ban on diesel exports would be unexpected for Europeans and could have severe consequences for the economic performance of the transatlantic partners.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
