EU countries to hold emergency meeting over diesel prices — The Local Sweden

EU countries and the European Commission will hold an emergency meeting on Friday to agree on a joint response to the sharp rise in diesel fuel prices. The meeting is scheduled for early in the day following Washington's call on European allies to immediately release strategic reserves, The Local Sweden reports.

Washington's pressure

US President Donald Trump said on Wednesday that he is still considering the possibility of banning diesel fuel exports from the United States. European Commissioner for Trade Maroš Šefčovič said such a move would be unexpected for Europeans and could have very serious consequences for the economy.

Šefčovič noted that he did not discuss energy exports in detail with US Trade Representative Jamieson Greer during the G20 trade ministers' meeting in Milwaukee. At the same time, the sides agreed to remain in close contact to avoid surprises. Greer said both sides were ready to cooperate on diesel fuel.

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France's position and US prices

According to reports cited by the outlet, the Trump administration wants France and Germany to use their diesel stocks to curb prices. French Minister Delegate for Foreign Trade Nicolas Forissier said he could not imagine an export ban being imposed, as diesel is important for both the United States and European countries.

The French presidency said that during the meeting between Emmanuel Macron and Trump on the sidelines of the UN General Assembly last week, there was no request to release reserves. Macron also plans to convene a video meeting of G7 leaders in mid-October to discuss ways of responding to rising fuel prices, including coordinating the release of reserves.

According to data from the American Automobile Association (AAA), cited by the outlet, the average diesel price in the United States has risen by more than 70% since the start of the US war with Iran, to $6.39 per gallon.