Europe to Release Diesel Oil Amid Record Prices
Europe agrees to release diesel oil to ease prices amid soaring global demand.
2 min read
President Donald Trump has claimed that Europe is set to release a “massive amount” of its stockpiled diesel oil to address the soaring prices of the fuel. In a Friday Truth Social post, Trump announced the move, stating the process would begin “immediately” without further details.
“Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil,” the commander-in-chief stated. “The process will begin immediately.”
Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately. Thank you for your attention to this matter! President DJT ( TS: Oct 2 2026, 10:01 AM ET ) pic.twitter.com/8GnJOjrVmE
The Group of Seven (G7) nations later confirmed the release, with French President Emmanuel Macron posting a statement to X on Friday. “I just brought together the G7 leaders to discuss the global energy situation,” he said, according to a translation. “We agree to work in a coordinated manner to help bring down the prices of petroleum products, particularly diesel.”
Je viens de réunir les dirigeants du G7 pour évoquer la situation énergétique mondiale. Nous sommes d’accord pour travailler de manière coordonnée pour contribuer à la baisse des prix des produits pétroliers, notamment du diesel. Nous avons décidé de : → flexibiliser la… pic.twitter.com/ilaXb94kD6
He said the G7 leaders – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – agreed to release “strategic reserves” within the next four months of up to 100 million barrels, with their partners and under the coordination of the International Energy Agency (IEA). The nations also agreed to “take no measures to restrict the exchange of energy and petroleum products between partner countries.”
In a joint statement, the G7 members explained there would be a frontloaded substantial diesel release within 20 days, according to Reuters. Diesel prices reached historic highs a couple weeks ago, soaring to the record-breaking U.S. national average of $6.52 per gallon on September 22nd, according to AAA. While costs dropped slightly to $6.37 per gallon on Friday, they remain well above last year’s $3.70 average.
Trump has primarily blamed the soaring cost of diesel on the ongoing Russia-Ukraine conflict, pointing to repeated strikes on oil refineries that have severely disrupted global fuel production and supply lines.
Source: OANN
