OAN Staff Addie Davis
12:33 PM – Friday, October 2, 2026
President Donald Trump has announced that Europe is going to release a “massive amount” of their stockpiled diesel oil amid the soaring prices of the fuel.
In a Friday Truth Social post, Trump said the maneuver would kick off “immediately” — without further comment.
“Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil,” the commander-in-chief stated. “The process will begin immediately.”
The Group of Seven (G7) nations later confirmed the release, with French President Emmanuel Macron posting a statement to X on Friday.
“I just brought together the G7 leaders to discuss the global energy situation,” he said, according to a translation. “We agree to work in a coordinated manner to help bring down the prices of petroleum products, particularly diesel.”
He said the G7 leaders – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – agreed to release “strategic reserves” within the next four months of up to 100 million barrels, with their partners and under the coordination of the International Energy Agency (IEA).
The nations also agreed to “take no measures to restrict the exchange of energy and petroleum products between partner countries.”
In a joint statement, the G7 members explained there would be a frontloaded substantial diesel release within 20 days, according to Reuters.
Diesel prices reached historic highs a couple weeks ago, soaring to the record-breaking U.S. national average of $6.52 per gallon on September 22nd, according to AAA.
While costs dropped slightly to $6.37 per gallon on Friday, they remain well above last year’s $3.70 average.
Trump has primarily blamed the soaring cost of diesel on the ongoing Russia-Ukraine conflict, pointing to repeated strikes on oil refineries that have severely disrupted global fuel production and supply lines.
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