European Union officials have held an emergency call after the Trump administration pressured Europe to release its emergency diesel stocks to help ease soaring diesel prices. The US and Israel’s war on Iran, as well as Russia’s war on Ukraine, have triggered a spike in global diesel prices, which is damaging Trump politically at home. US diesel prices have surged, hitting a record of $6.53 per gallon last week. The average price of diesel in Europe has also hit an all-time high of 2.24 euros per litre ($9.56 per gallon), according to European Commission data. The spike in US diesel prices has prompted the Trump administration and Republican lawmakers to consider restricting US diesel exports ahead of the upcoming November midterm elections.
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