Trump says Europe will release "massive amount" of diesel oil from stockpiles

President Trump announced that European governments will draw down their diesel reserves to ease soaring fuel costs, after an emergency Group of Seven video conference on Friday morning. The session followed an overnight phone call between Trump and French President Emmanuel Macron. A White House official said Trump personally negotiated the arrangement with Macron and then with the other G7 leaders. Trump said on Truth Social that the process would start immediately, according to CBS News.

A joint statement issued by the Élysée Palace in Paris put numbers on the plan: 100 million barrels will be released in coordination over four months, with much of the diesel portion arriving early, during the first 20 days. The group also pledged not to restrict energy exports among its members and urged producers everywhere to avoid bans that could worsen market strain. The statement never named Trump, who has himself floated prohibiting American diesel exports, a step that would lift worldwide prices further.

At home, expensive diesel is spreading through the economy. Schools, farmers, small businesses, construction companies and food banks are all reporting sharply higher costs for running machinery, vehicles and delivery trucks.

Summarized by PolitiKool from CBS News’s reporting. Read the full story at CBS News →