Trump says Europe to release ‘massive’ diesel stocks as fuel prices rise
Diesel prices are drawing renewed attention as US President Donald Trump says Europe has agreed to release a “massive amount” of its diesel stocks. The move comes as fuel prices rise ahead of the November US elections, with the timing raising the stakes for consumers and businesses.
- Oct 2, 2026,
- Updated Oct 2, 2026 8:23 PM IST
US President Donald Trump said on Friday that European countries have agreed to release a “massive amount” of diesel from their stockpiles as diesel prices continue to rise.
“Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately,” Trump said in a post on Truth Social.
The announcement came a day after the United States urged its European allies to make diesel supplies available immediately. US Treasury Secretary Scott Bessent said on Thursday that European partners should “accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions.”
EU member states were due to meet with the European Commission on Friday to discuss a coordinated response to soaring fuel prices. Reports had indicated that Washington was particularly seeking France and Germany to tap their diesel stockpiles.
Diesel prices jump amid Iran war
The push comes as diesel prices have climbed sharply following supply disruptions linked to the US war on Iran. Average US diesel prices have risen more than 70% to $6.39 a gallon since the start of the conflict, according to AAA data cited by AFP.
Higher diesel prices are a concern because the fuel is widely used by trucks, agricultural machinery, construction equipment and industry. A sustained increase can therefore feed into transportation costs and broader consumer prices. Washington has been pressing Europe to help increase supplies. A US official said it was in Europe’s interest to work with the United States to boost refined-product supplies and lower costs for consumers.
US weighs diesel export restrictions
The White House has also been considering measures to restrict US diesel exports. Trump said on Wednesday that he was still considering a possible export ban, while acknowledging that such a move could eventually push gasoline prices higher. US Energy Secretary Chris Wright said earlier that the world would hear announcements from European allies aimed at bringing diesel prices down.
The prospect of an American export ban has unsettled European officials. EU trade chief Maros Sefcovic said such a move would be “unexpected for Europeans” and warned it could have “very dramatic consequences” for economic performance. France’s trade minister Nicolas Forissier also said he could not imagine a US diesel export ban and stressed the importance of diesel supplies to both sides of the Atlantic.
G7 coordination also in focus
French President Emmanuel Macron is expected to convene a G7 video meeting to discuss measures to address rising fuel prices, including possible coordination on reserve releases. Macron had announced plans for such a meeting earlier, with the gathering expected in mid-October.
The diesel-price surge comes weeks before the US midterm elections in November, increasing the political sensitivity around fuel and living costs for the Trump administration.
US President Donald Trump said on Friday that European countries have agreed to release a “massive amount” of diesel from their stockpiles as diesel prices continue to rise.
“Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately,” Trump said in a post on Truth Social.
The announcement came a day after the United States urged its European allies to make diesel supplies available immediately. US Treasury Secretary Scott Bessent said on Thursday that European partners should “accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions.”
EU member states were due to meet with the European Commission on Friday to discuss a coordinated response to soaring fuel prices. Reports had indicated that Washington was particularly seeking France and Germany to tap their diesel stockpiles.
Diesel prices jump amid Iran war
The push comes as diesel prices have climbed sharply following supply disruptions linked to the US war on Iran. Average US diesel prices have risen more than 70% to $6.39 a gallon since the start of the conflict, according to AAA data cited by AFP.
Higher diesel prices are a concern because the fuel is widely used by trucks, agricultural machinery, construction equipment and industry. A sustained increase can therefore feed into transportation costs and broader consumer prices. Washington has been pressing Europe to help increase supplies. A US official said it was in Europe’s interest to work with the United States to boost refined-product supplies and lower costs for consumers.
US weighs diesel export restrictions
The White House has also been considering measures to restrict US diesel exports. Trump said on Wednesday that he was still considering a possible export ban, while acknowledging that such a move could eventually push gasoline prices higher. US Energy Secretary Chris Wright said earlier that the world would hear announcements from European allies aimed at bringing diesel prices down.
The prospect of an American export ban has unsettled European officials. EU trade chief Maros Sefcovic said such a move would be “unexpected for Europeans” and warned it could have “very dramatic consequences” for economic performance. France’s trade minister Nicolas Forissier also said he could not imagine a US diesel export ban and stressed the importance of diesel supplies to both sides of the Atlantic.
G7 coordination also in focus
French President Emmanuel Macron is expected to convene a G7 video meeting to discuss measures to address rising fuel prices, including possible coordination on reserve releases. Macron had announced plans for such a meeting earlier, with the gathering expected in mid-October.
The diesel-price surge comes weeks before the US midterm elections in November, increasing the political sensitivity around fuel and living costs for the Trump administration.