Fuel & rates

Trump threatens diesel export ban unless Europe releases reserves

European officials held an emergency call Oct. 1 after the U.S. threatened to ban diesel exports — the latest pressure on a market where EU diesel averages $9.53 a gallon.

By CDLWire · Published October 1, 2026

Summarized from USA Today.

Semi trucks fueling at a diesel pump island at a truck stop at dawn

European countries held a call on Oct. 1 to discuss releasing diesel stocks from their strategic reserves after the Trump administration threatened to impose a diesel export ban, two EU officials told USA Today.

The United States has pressed European countries to draw from their diesel reserves or face an export ban as President Donald Trump seeks to lower energy prices before November's midterm elections. Reuters reported, citing three people close to the discussions, that Washington asked the EU to release 120 million barrels of diesel over the next six months.

The Oct. 1 call featured representatives from Germany, France, the European Commission, Italy, Ireland and the United Kingdom. The average price of a gallon of diesel in the United States is $6.39, according to AAA; in the EU it is $9.53, according to European Commission data, up from roughly $7.11 before the start of the Iran war.

European Commission spokesperson Anna-Kaisa Itkonen said any decision to release EU strategic reserves would involve the International Energy Agency. Trump came out in support of a temporary diesel export ban last month and said on Sept. 30 he is still considering whether to implement one. Energy Secretary Chris Wright, who has opposed a blanket export ban, said on Sept. 30 that the U.S. and EU were working on plans to lower diesel prices: "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."

Experts cautioned that a U.S. export ban could backfire. "A U.S. ban on exporting to our own allies is very likely to backfire," energy strategist Clay Seigle told USA Today. CIBC Private Wealth's Rebecca Babin said releasing EU reserves would only lower diesel prices temporarily, with the biggest impact felt in Europe.

Why it matters: After the first diesel price drop in 12 weeks, export-ban politics are the next wildcard for the pump price — watch whether Europe's promised supply announcements materialize this week.