U.S. urges Europe to ‘immediately’ release diesel reserves as Iran war fuels record prices

Freight is transferred between rail and truck at the BNSF intermodal on September 17, 2026 in Cicero, Illinois.Scott Olson | Getty Images News | Getty ImagesThe Trump administration has pushed for European countries to urgently release some of their diesel reserves, saying U.S. farmers, truckers and businesses should not be left carrying the burden for global supply disruptions.The message comes as U.S. President Donald Trump continues to mull over whether to move ahead with a diesel export ban as part of an attempt to get a handle on high energy prices.Average U.S. diesel prices surged to a record high of $6.50 per gallon late last month, according to AAA, up sharply from a year ago amid supply disruptions fueled by the Iran war and Russia's full-scale invasion of Ukraine. In a post on social media, U.S. Treasury Secretary Scott Bessent said Thursday that America's European partners "should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions." He added: "America is doing its part. We look to our allies to match their commitments with action." The U.S. government is currently facing mounting political p...