Trump Begs Europe to Help Him Bring Down Diesel Costs He Drove Up
France proposed to release some of its diesel stockpiles after an emergency G7 meeting.

The Group of Seven Nations agreed Friday to release 100 million barrels of oil from its stockpiles—following a desperate plea from the White House.
The G7 held an emergency meeting Friday morning to discuss global energy costs. The discussion came in the wake of a pressing call between Donald Trump and French President Emmanuel Macron, during which the U.S. leader asked for assistance amid the current oil crisis and floated the idea of banning U.S. diesel exports, according to CBS Chief Foreign Affairs Correspondent Margaret Brennan.
The global coalition consists of Canada, France, Germany, Italy, Japan, the U.K., and the U.S. The barrels are expected to hit the market over the next four months.
In a statement, the group said that it had “agreed on decisive, coordinated measures to stabilize immediate energy supplies, shield households and businesses from price shocks, and strengthen the long-term resilience of global energy systems.”
Trump announced after the meeting that “Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately.”
Two diplomats that spoke with Politico suggested that the G7 declaration was little more than a reiteration of an agreement initially drawn up in March, when the International Energy Agency led an effort to release some 400 million barrels of oil. That oil sale was stalled due to the low availability of cheaper U.S. crude oil, though an EU diplomat told Politico that the oil was finally released.
The price of oil and gas has gone up exponentially since the start of the Iran war and the subsequent closure of the Strait of Hormuz. In early February, weeks before the Trump administration initiated the conflict, gas cost approximately $2.99 per gallon. Today, a gallon costs $4.39 on average, according to the AAA fuel price tracker.
This time last year, diesel cost an average of $3.70 a gallon, according to AAA. Today, it costs $6.37 a gallon.
This story has been updated.



