Europe to Release Up to 100 Million Barrels of Diesel Over Four Months After US Request
European leaders agreed to release up to 100 million barrels of diesel within four months following a request from the United States, aiming to ease high fuel prices.
European countries will begin releasing portions of their diesel reserves immediately after a request from the United States, according to French President Emmanuel Macron. Macron said the G7 group will make available up to 100 million barrels of diesel over the next four months and will avoid trade-limiting measures on petroleum and energy products among partner nations.
The decision follows a call between Macron and U.S. President Donald Trump, during which the United States asked France, Germany and other European states to free 100 million barrels within a 20-day period. Trump later posted on his social media platform that the move was "a great thing" and noted that a ban on U.S. diesel exports had never been seriously considered.
U.S. diesel prices have risen to an average of $6.37 per gallon, while German diesel reached €2.41 per liter, according to the American Automobile Association and the ADAC motoring club respectively. The price increases have been linked to the conflict in Iran, broader trade policies, and Russia's export ban after attacks on its refineries.
G7 leaders issued a joint statement emphasizing that citizens' concerns about energy costs remain a priority and that the group will monitor the situation and adjust measures as needed.