European Union countries discussed a French proposal on Friday to release diesel stocks in response to US pressure to help cool surging fuel prices linked to the Iran war, Reuters reported, citing three sources familiar with details of the discussion.
The proposal, discussed on a call involving EU governments, calls for European countries to release 50 million barrels of diesel and International Energy Agency members to release 50 million barrels of crude oil, the sources said.
French President Emmanuel Macron is scheduled to chair a videoconference with G7 leaders at 2:30 p.m. Paris time (1230 GMT) focused on the global energy situation, the Elysee Palace said.
EXCLUSIVE: Europe weighs new diesel stocks release after US pressure, sources say https://t.co/5aAxkeI4Ax https://t.co/5aAxkeI4Ax
— Reuters (@Reuters) October 2, 2026
Europe would release part of the diesel volumes in a 20-day period, responding to US President Donald Trump’s demand for a rapid release of fuel stocks, two of the sources said.
The discussions underscore growing pressure on Europe as Trump considers a potential ban on US diesel exports to help lower domestic fuel prices ahead of November 3 midterm elections.
In weighing its response, the EU needs to balance the need to ease soaring fuel costs against preserving emergency reserves to safeguard against uncertain supply from Gulf producers due to disruptions caused by the Iran war.
France’s finance and energy ministry did not immediately respond to a request for comment.
French President Macron spoke with Trump overnight, emphasizing the need to work together to combat rising fuel prices and ensure the global availability of refined products, the Elysee Palace said on Friday.
Reuters reported on Thursday that the Trump administration had told Germany and France to draw down emergency diesel inventories or face a potential US diesel export ban.
The US had demanded large European countries including France and Germany release 100 million barrels of diesel within a 20-day window, two of the sources told Reuters on Friday.
Global diesel supply has been hit by the US war with Iran and a Russian ban on exports after Ukraine damaged many of its refineries. Chinese refiners have also suspended October fuel exports to bolster domestic stocks, sources said.
Just in: The price of diesel in Europe fell sharply on Friday morning as European countries considered releasing 50mn barrels of diesel in response to days of political pressure from the Trump administration. https://t.co/pYgnttMvme pic.twitter.com/iFBT28RsdI
— Financial Times (@FT) October 2, 2026
Source: Reuters (edited by Al-Manar)