The United States has formally requested that European allies, with a specific focus on Germany and France, immediately tap into their strategic diesel reserves to curb rapidly escalating fuel costs. This diplomatic pressure coincides with an emergency meeting scheduled for Friday, where the European Union will convene to address the escalating crisis.
Washington’s demand follows comments made by President Donald Trump on Wednesday, in which he suggested the possibility of prohibiting diesel exports from the United States. According to data from the AAA motor club, average diesel prices in the US have climbed by more than 70% since the onset of the Iran conflict, now averaging $6.39 per gallon, or approximately €1.50 per liter.
Soaring energy costs have fueled public frustration and raised concerns within the Republican Party about potential electoral setbacks in the November midterm congressional elections. In Germany, the ADAC motoring association reported on Thursday that average diesel prices have reached €2.409 per liter, equivalent to roughly $10.25 per US gallon.
US Energy Secretary Chris Wright expressed confidence that Europe could alleviate price pressures by utilizing emergency inventories. Speaking to Fox News, he emphasized the need for a coordinated release of diesel stocks as the continent transitions into harvest season and winter heating oil demand. “Now’s the time to bring more diesel to the market, and that diesel is available,” Wright stated.
Treasury Secretary Scott Bessent reinforced the call for action, noting that the US has already contributed 172 million barrels as part of a March agreement among International Energy Agency members. “America is doing its part,” Bessent said on the social media platform X, urging European partners to match their commitments with tangible supplies to address ongoing disruptions.
US Trade Representative Jamieson Greer indicated a willingness to collaborate, suggesting that nations like France, Germany, and Italy are positioned to assist by making reserves available. During a news conference in Milwaukee, Greer expressed hope for a cooperative path forward to increase market supply.
European officials have responded with caution. Maros Sefcovic, the EU trade chief, met with Greer at a G20 gathering in Milwaukee but declined to specify details regarding energy exports. He characterized any potential US export ban as unexpected and warned of severe consequences for economic performance, though he confirmed both sides intend to maintain close communication.
Nicolas Forissier, France’s minister delegate for international trade, told AFP that he did not anticipate an export ban and stressed the importance of finding mutual solutions. Meanwhile, Germany’s Economy Ministry clarified that the International Energy Agency has not yet formally requested the release of German stockpiles.
As diplomatic talks continue, the EU’s energy task force, comprising representatives from the European Commission and all 27 member states, will hold an emergency session on Friday morning to discuss the situation and potential responses.
$10 a gallon? I thought it was bad in the US, but those European prices are absolutely insane right now.
Releasing reserves won’t fix the root cause. Europe needs energy independence, not just a Band-Aid from Washington.