Trump Says Europe Will Release Diesel Stockpiles to Ease U.S. Prices

WASHINGTON, Oct. 2 (TodayViralUSA) — President Donald Trump said Friday that European governments had agreed to release large volumes of diesel from strategic stockpiles to ease U.S. pump prices that have climbed sharply during the Iran conflict and related supply shocks.

“Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil,” Trump wrote on Truth Social, saying the process would begin immediately. The announcement followed a virtual Group of Seven discussion that included French President Emmanuel Macron, according to NBC News.

AAA put the U.S. average diesel price near $6.37 a gallon on Friday. Industry and government figures show diesel has risen roughly 70 percent since the Iran war began in February, compounding costs for trucking, agriculture and retail distribution. Some independent operators have reported fill-ups approaching $1,000 for a full tank, the New York Times has reported.

Pressure on allies and market context

Treasury Secretary Scott Bessent said Thursday that Washington was meeting commitments to stabilize energy markets and urged European partners to accelerate deliveries and make additional supplies available. Energy Secretary Chris Wright told reporters this week that allied releases could “meaningfully push diesel prices down,” though concrete shipment schedules from European capitals were still taking shape.

Administrations officials have argued that Russian refining disruptions and export limits, as well as Middle East risk premiums, have tightened diesel more than gasoline. Russia has extended a ban on diesel exports into late October, Reuters has reported, removing a traditional source of product for Atlantic markets.

Brent crude settled higher on Friday as investors weighed stalled Iran diplomacy against the prospect of more product flowing from European reserves. International benchmark futures rose more than 2 percent to about $100.35 a barrel in morning trading cited by Anadolu Agency, while U.S. West Texas Intermediate climbed to roughly $92.62.

The White House had previously considered restricting U.S. diesel exports as leverage to spur European cooperation, according to Reuters. Trump has publicly blamed the Russia-Ukraine war for much of the diesel squeeze even as the Iran conflict has lifted global oil prices and kept the Strait of Hormuz under threat.

With midterm elections about five weeks away, falling diesel costs would ease a visible inflation pressure for truckers, farmers and logistics firms. Whether European releases arrive quickly enough — and in volumes large enough — to reverse the recent climb remains the central market question after Friday’s political announcement.