US urges EU to tap diesel reserves to curb global prices

Two sources familiar with the matter said the White House has urged the European Union to draw from its emergency diesel reserves in an effort to bring down global prices, as President Donald Trump and his administration consider various options to ease fuel costs ahead of the US midterm congressional elections in November.

Rising diesel prices have become a political challenge for Trump and the Republicans, especially in agricultural states where fuel is vital for farming, trucking, and manufacturing.

With Republicans under pressure to address the cost-of-living crisis before the elections, the administration is weighing measures ranging from encouraging other countries to tap their reserves, restricting US diesel exports, and working with refiners to boost domestic supply.