The Trump administration is urging Europe to "immediately" release diesel from its emergency reserves, threatening to restrict U.S. exports of the fuel if Europe does not cooperate, according to Reuters, citing people familiar with the effort.
One source in a European capital said Washington wants the European Union to draw down 120 million barrels of diesel over the next six months — a volume that would drain more than 40 percent of the bloc's emergency stocks and roughly equals one month of total EU diesel consumption, according to Reuters calculations based on Eurostat data.
Treasury Secretary Scott Bessent wrote on social media that European countries should "make additional supplies immediately available," arguing that U.S. farmers, truckers and businesses "should not be left carrying the burden" of soaring prices. Asked this week whether he would call on Europe to release its reserves, Trump answered from the White House: "We may do that. They have some diesel."
Diesel prices have surged to record or near-record levels in several markets, turning the fuel — which underpins trucking, agriculture and industry — into a political and economic problem. U.S. diesel averaged $6.39 a gallon on Thursday, according to AAA, up from $3.71 a year earlier; it hit a record $6.53 a week ago. Gasoline prices have jumped more than 40 percent over the past year.
Trump said Wednesday, in the Oval Office, that he has conversations about banning diesel exports "every day." A ban, he said, would "have a negative impact on gasoline" prices but could lower diesel costs. He blamed Russia's war in Ukraine — strikes on both sides hitting energy production and exports — as the main cause of the price spike.
Energy Secretary Chris Wright said the disruptions run wider. "We've lost some diesel exports from the Middle East, although we're restoring those, and we've lost diesel exports from China," he said, adding that the administration expects announcements soon from Europe on new diesel supplies. With November's midterm elections approaching and Trump's economic approval ratings under strain, the president is campaigning for Republicans in the coming weeks in hopes of holding the House and Senate.
The pressure falls squarely on Paris and Berlin. According to the latest available Eurostat data, for May 2025, EU member states held about 39 million metric tons of emergency gasoil and diesel stocks. Germany held 5.6 million tons and France 8.2 million tons — together about 35 percent of the bloc's strategic reserves.
U.S. officials are particularly frustrated with the two countries, which they believe fell short of commitments under a coordinated International Energy Agency emergency release agreed earlier this year. The IEA agreed in March to release around 400 million barrels of emergency stocks globally, with the U.S. providing 172 million barrels and EU countries committing to supply 20 percent of the total.
EU rules require member states to maintain emergency oil stocks covering at least 90 days of net imports or 61 days of domestic consumption, whichever is greater. The bloc as a whole is complying. But the dispute highlights Europe's bind: having cut reliance on Russian fuel imports after Moscow's invasion of Ukraine and sharply reduced its own refining capacity over two decades, Europe has grown increasingly dependent on diesel imports from the United States — just as the Iran war slashes Middle East supplies.
On October 1, representatives from Germany, France, the European Commission, Italy, Ireland and the United Kingdom held a call to discuss releasing diesel stocks from strategic reserves, two EU officials told USA Today, after the Trump administration threatened a diesel export ban.
European Commission spokesperson Anna-Kaisa Itkonen said in a statement that the Commission, together with Ireland as Presidency of the Council of the EU, "is closely coordinating with EU Member States to take stock of the situation and examine appropriate measures to tackle these high prices." Any decision to release EU strategic reserves would involve the International Energy Agency, she added.
In the UK, where diesel prices hit record highs this week — hovering just under 200 pence per liter, according to the RAC — Energy Minister Martin McCluskey joined a call with European counterparts on Thursday to discuss the potential ban. Over half of Britain's diesel is imported, with 31 percent of imports coming from the U.S.
A U.S. export ban would flood the domestic market with diesel and could bring prices down significantly for American drivers — but experts warn it would put further pressure on prices elsewhere unless those countries can access additional supplies. The United States exports between 1.2 and 1.5 million barrels of diesel per day, making it a vital global supplier. The American Petroleum Institute has warned that restricting exports "could disrupt refinery operations" and reduce fuel production.
Europeans are paying even more at the pump: the average price of a gallon of diesel in the EU is $9.53, compared with roughly $7.11 before the start of the war in Iran, according to European Commission data. Analysts estimate the EU has spent more than €100 billion extra on energy imports since the war began.
The next move is Brussels'. If Europe taps its reserves, global diesel prices could ease. If the standoff holds, the White House may follow through on the export ban — and Europe faces an even harsher winter energy bill.