1 hour ago
20
See more of our coverage in your search results.
WASHINGTON — Europe will release a “massive amount” of diesel fuel, President Trump announced Friday after pressuring allies to open their emergency reserves.
“Europe has just agreed to release a massive amount of their heavily stocked Diesel,” Trump wrote on Truth Social. “The process will begin immediately. Thank you for your attention to this matter!”
No details were immediately available about how many barrels of oil Europe will release and when they will hit the market. Trump’s statement followed an emergency G7 meeting, chaired by French President Emmanuel Macron, on the global energy situation.
The Elysee Palace confirmed that Trump and Macron spoke Thursday night “on the need to work together to address rising fuel prices and ensure the global availability of refined petroleum products.”
The announcement comes as gas prices continue to drop from their early September highs. The national average price of a gallon of regular fuel stood at $4.40 as of Friday morning, down more than nine cents from last week, according to AAA.
Diesel prices were $6.37 per gallon, down 15 cents from the record high set Sept. 22.
Voters have named the high cost of living, including gas prices, as their top concern ahead of the Nov. 3 election.
In addition to the European fuel release, Reuters reported Friday that Trump may sign an executive order as early as next week aimed at reducing diesel prices. It was not immediately clear whether the announcement would be an export man, which many analysts have speulated about in recent weeks.
