Washington Urges Europe to Tap Diesel Reserves as Fuel Costs Climb

The United States has called on its European allies to unlock strategic diesel stockpiles without delay, arguing that swift action is needed to calm global fuel markets that have been roiled by the ongoing war with Iran. The appeal came Thursday from US Treasury Secretary Scott Bessent, who used social media to press European governments to move faster on commitments they had already made while also pledging fresh supplies.

Bessent's message was pointed: European partners should speed up delivery of existing pledges and make additional barrels available right away to address what he described as continuing disruptions in the market. The request marks an escalation in Washington's efforts to enlist Europe in a campaign to bring down prices that have climbed steadily since the conflict with Iran began.

The pressure campaign is set to move into a formal setting Friday, when energy officials from the European Union's member states sit down with the European Commission to hash out a coordinated answer to the price surge. A Commission spokesman confirmed the meeting, signaling that Brussels is treating the fuel spike as a matter serious enough to warrant a collective response rather than isolated national measures.

Behind the American push is a deepening worry in the White House about the political fallout of expensive fuel. President Donald Trump raised the stakes on Wednesday by openly floating the idea of banning US diesel exports, a step that would redirect domestic supply but could upend global trade flows. Energy costs are emerging as a liability for Trump's Republican Party with midterm elections only weeks away, and the administration is clearly searching for tools to blunt the impact on consumers.

A US official, speaking to AFP, framed the issue as a shared transatlantic interest. The official said it serves Europe's own best interests to cooperate with Washington as the two sides explore multiple avenues to expand the supply of refined products and drive down costs for consumers. The language was designed to cast the reserve release not as a favor to America but as a matter of mutual economic self-interest.

At the G20 trade talks in Milwaukee, US Trade Representative Jamieson Greer adopted a notably conciliatory tone, telling participants there was an eagerness on both sides to work together on the diesel question. Trump, speaking to reporters during a visit to Texas on Thursday, added that he may formally ask European countries to release diesel reserves — a signal that the request could soon move from social media posts and private conversations into an official diplomatic channel.

Yet the prospect of an American export ban has unsettled European officials. EU trade chief Maros Sefcovic, speaking to reporters Thursday on the sidelines of the two-day G20 trade ministers' gathering in Milwaukee after meeting with Greer, said such a move would be unexpected for Europeans. He acknowledged that he and Greer did not delve into the details of energy exports, but said the two partners had decided to stay in close contact to avoid any surprises.

Sefcovic did not mince words about the potential damage, warning that an export ban would carry very dramatic consequences for Europe's economic performance. His comments reflect a broader anxiety in European capitals that the continent, still nursing the wounds of previous energy shocks, could be left exposed if Washington prioritizes its domestic market over allied supply.

France's minister delegate for international trade, Nicolas Forissier, also weighed in from Milwaukee, telling AFP he could not imagine that a ban would actually materialize. He underscored how vital diesel is to both the United States and European economies, and predicted that the two sides would try to find solutions together. Forissier added that France would seek balanced arrangements around the world, suggesting that if a deal with the Americans proves impossible, Paris would look to other suppliers.

Trump himself has been ambivalent about the export ban. On Wednesday he told reporters in the Oval Office that he was still considering it, while conceding that such a step could ultimately push gasoline prices higher — an acknowledgment of the complex trade-offs involved. Speaking alongside him, US Energy Secretary Chris Wright predicted that the world would soon hear announcements from friends in Europe aimed at pushing diesel prices down, hinting that behind-the-scenes diplomacy was already yielding movement.

In Paris, the French presidency pushed back on the suggestion that Washington had made a specific demand for reserve releases. According to the presidency, no such request was made when President Emmanuel Macron and Trump met on the sidelines of the UN General Assembly last week. The French leader is nonetheless preparing to convene a video meeting of G7 leaders to make progress on the various levers available to address rising fuel prices, including coordination on releasing reserves. Macron first announced plans for such a gathering on September 18, and his press office said the G7 meeting is expected in mid-October.

The urgency is rooted in the numbers. Average US diesel prices have jumped more than 70 percent to $6.39 a gallon since the start of the Iran war, according to data from the AAA motor club. That surge has rippled through the broader economy, driving up living costs and stoking voter discontent — a dangerous combination for Trump's Republican Party, which fears it could lose control of Congress in November's midterm elections. The reserve-release debate, the export-ban threat and the looming G7 call all reflect a transatlantic scramble to contain an energy shock that shows little sign of easing on its own.