President Donald Trump said Friday that Europe has agreed to release heavily stocked diesel oil reserves beginning “immediately,” amid high fuel prices in the U.S.
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President Donald Trump said Friday that Europe has agreed to release a “massive amount” of heavily stocked diesel oil reserves, adding that “The process will begin immediately.” Trump made the announcement on social media without specifying which countries would release reserves or the volume involved.
The comments came as Trump and the Republican Party face pressure to address surging fuel prices ahead of November’s midterm elections. The national average for a gallon of diesel in the U.S. was $6.37 on Friday, according to AAA, after reaching a record $6.52 on Sept. 22.
The White House linked the higher prices to an eight-month war involving Iran, which Trump has said is “worth it” to prevent Iran from obtaining nuclear weapons. Trump has also said prices will come down after the war, though the evidence provided says there is “no end in sight.”
Trump spoke overnight with French President Emmanuel Macron, described in the French Embassy in the U.S. as chair of the G7, about rising fuel prices and the availability of petroleum products. Macron then chaired a videoconference of G7 leaders to discuss the issue, according to the same evidence.
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