Europe to Release Diesel Stocks Amid Soaring Prices

President Donald Trump has announced that Europe will soon release a “massive amount” of its stored diesel oil in response to rising fuel prices.

In a post on Truth Social, Trump mentioned that the initiative would begin “immediately” but didn’t elaborate further.

“Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil,” Trump stated. “The process will begin immediately.”

The Group of Seven (G7) nations later confirmed this decision, with French President Emmanuel Macron sharing a statement on X.

“I just brought together the G7 leaders to discuss the global energy situation,” he said via translation. “We agree to work in a coordinated manner to help bring down the prices of petroleum products, particularly diesel.”

Macron indicated that the G7 countries—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—have collectively decided to release “strategic reserves” of up to 100 million barrels over the next four months, coordinated with the International Energy Agency (IEA).

The nations also agreed not to impose restrictions on the exchange of energy and petroleum products among partner countries.

In a joint statement, the G7 announced a significant diesel release would occur within 20 days, as reported by Reuters.

Diesel prices recently hit record highs, reaching a national average of $6.52 per gallon on September 22, according to AAA. As of Friday, prices had slightly decreased to $6.37 per gallon but were still markedly higher than last year’s average of $3.70.

Trump has primarily attributed the rising diesel costs to the ongoing conflict between Russia and Ukraine, citing repeated attacks on oil refineries that have disrupted global fuel production and supply chains.