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The Economic Times

Economy / The Economic Times

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US wants European allies to do this 'immediately' to lower diesel prices

The US has urged European allies to release strategic diesel reserves immediately as global fuel prices surge amid supply disruptions linked to the Iran war. Washington is also considering a diesel export ban, putting pressure on France and Germany to tap stockpiles. US diesel prices have climbed more than 70% since the war began, reaching $6.39 a gallon.

2 Oct 2026 8:37 am