US presses Europe to release diesel reserves ‘immediately’ as fuel prices surge

The United States on Thursday told its European allies to help lower global diesel prices by releasing strategic reserves "immediately," with EU member states due to discuss the crisis on Friday. Reports said the Trump administration wants France and Germany in particular to tap their stockpiles of diesel to try to curb prices sent soaring by the US war on Iran. "Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions," US Treasury Secretary Scott Bessent said in a post on social media. EU member states will meet with the European Commission Friday to discuss a coordinated response to soaring fuel prices, a Commission spokesman said. Washington is piling on pressure to get European help with fuel costs, with US President Donald Trump on Wednesday floating the possibility of banning diesel exports. High energy costs loom as a threat to Trump's Republican party in next month's midterm elections. "It is in Europe's best interest to work with the United States as we pursue multiple pathways to boost the supply of refined products and lower costs for consumers," a US official told AF...