1 hr ago
Trump Weighs European Diesel Release as Fuel Costs Rise
Diesel is a fuel used by trucks, farmers, builders and factories.
Its price has been rising because supplies are tight.
President Donald Trump said the United States might ask European countries to release some stored diesel.
Releasing stored fuel could add more diesel to the market.
The administration is also considering stopping some diesel exports from the United States.
Trump said this could help American supplies but might make gasoline for cars more expensive.
He blamed attacks on Russian refineries for much of the current problem.
More than 30 business and energy groups say export limits could reduce refining and make prices higher instead.
President Donald Trump said the United States may ask European nations to release diesel reserves.
Trump said fuel prices are coming down but did not identify which countries might be approached.
His administration is also seriously considering limits on American diesel exports.
Trump attributed current supply pressures mainly to attacks on Russian refineries by Ukraine.
More than 30 American business, manufacturing and energy groups oppose export restrictions, warning they could raise prices.
- Who
- US President Donald Trump, European governments, and more than 30 American business, manufacturing and energy associations.
- What
- The Trump administration is considering asking European nations to release diesel reserves and restricting US diesel exports.
- Where
- The comments were made during Trump's visit to Texas and Oklahoma, while the potential fuel measures would involve the United States and European nations.
- When
- Trump discussed the possible European request during a visit to Texas and Oklahoma; he discussed export limits in a television interview on Sunday.
- Why
- The measures are being considered to increase diesel availability and reduce fuel costs amid global supply disruptions.
Supply Intervention
Export-Curb Concerns
How to lower diesel prices
Supply Intervention
Releasing European reserves or restricting US exports could increase domestic diesel availability and help lower costs for local consumers.
Export-Curb Concerns
More than 30 business, manufacturing and energy associations argue that export restrictions could discourage domestic refining and ultimately drive prices higher.
Effect on other fuels
Supply Intervention
The administration is considering export limits as a way to build US stockpiles and ease diesel costs.
Export-Curb Concerns
Trump acknowledged that restricting diesel exports can sometimes lead to higher gasoline prices for cars.
Cause of the disruption
Supply Intervention
Trump said attacks on Russian refineries are the primary cause of current market constraints rather than Middle Eastern turbulence.
Export-Curb Concerns
The broader reporting describes the situation as driven by global supply disruptions, without independently resolving the competing explanations.
Key facts
- Potential European action
- European nations could be asked to release emergency diesel reserves.
- US export policy
- The administration is seriously considering limiting American diesel exports.
- Trump's stated market view
- Trump said prices are coming down.
- Stated supply factor
- Trump identified attacks on Russian refining infrastructure as a major source of current market constraints.
- Industry response
- More than 30 American corporate, manufacturing and energy associations oppose export curbs.
- Potential consequence
- Trump said export restrictions can sometimes cause gasoline prices for cars to rise.
- Unresolved details
- Trump did not specify which European countries might be contacted, the amount of diesel involved, or whether talks had begun.
Quotes
Donald Trump
US president discussing a possible request for European diesel reserve releases
“The big problem is the refineries in Russia are being blown up. This isn’t really a Middle Eastern problem. This is more of a Russia problem, that Ukraine and Russia are going at it, and Ukraine is blowing up diesel refineries in Russia because they do a lot of the refining”
republicworld.com
“Well, we're thinking about it very seriously. That can oftentimes lead to a little bit of an increase on gasoline for cars. So we're looking at it very seriously. We may do it”
republicworld.com
deccanchronicle.com
Sources
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