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US urges European allies to release diesel reserves to cut prices
The US said EU member states are set to discuss a coordinated response on Friday as diesel prices rise amid disruptions linked to the US war on Iran.
The US urged European allies to release strategic diesel reserves immediately to help lower global diesel prices, according to SCMP Economy citing remarks by the US Treasury Secretary.
US Treasury Secretary Scott Bessent said European partners should accelerate delivery on existing commitments and make additional supplies available to address ongoing disruptions.
The report said the Trump administration is looking in particular to France and Germany to tap their stockpiles of diesel to try to curb prices that have surged, linking the move to the US war on Iran.
EU member states are due to meet with the European Commission on Friday to discuss a coordinated response to the soaring fuel prices, the report said, citing a commission spokesman.