The Trump administration has asked several European allies to release diesel fuel from their national emergency stockpiles in an effort to increase global supplies and tamp down on soaring prices.The average U.S.price of diesel has soared by 70% since the war with Iran began, hitting $6.38 per gallon Thursday, according to AAA.
Less than five weeks before the U.S.midterm elections, Republicans are eager for any way to lower domestic fuel prices.U.S.
Energy Secretary Chris Wright appeared confident this week that Europe would agree to tap its diesel reserves.“You will hear announcements from our friends in Europe about new diesel supplies that’ll come to the market that’ll meaningfully push diesel prices down,” he told reporters Wednesday at an event with President Donald Trump in the Oval Office.But U.S.
Trade Representative Jamieson Greer stopped well short of suggesting the European release was a done deal.“I spoke with my French counterpart” about a diesel release, he said Thursday, calling it a “very good conversation.” “I let him know that this is an idea that we’ve had in the U.S.,” he told Bloomberg Television.
“We’d love to have a collaborative response to this.” The United States is hosting G20 trade ministers in Milwaukee this week, where Greer said he planned to meet his European Union counterpart.Also in Milwaukee are trade ministers from China, India, the United Kingdom and other countries affected by tight global diesel supplies.U.S.
Trade Representative Jamieson Greer met with his counterparts this week at a G20 trade ministers meeting in Milwaukee.Michael Nagle / Bloomberg via GettyThe message coming from Europe on Thursday was also a cautious one.The E.U.is “in very close contact with our member states on this ongoing issue,” European Commission energy spokesperson Anna-Kaisa Itkonen told reporters at a media briefing in Brussels.“We are also having high-level contacts ongoing with the U.S.
administration,” ...