Diesel prices have surged to record or near-record levels in several markets, including Europe. The fuel underpins road freight, agriculture and industry, turning the price spike into a matter of both economic and public policy.
US officials are frustrated with France and Germany, which they believe have not met commitments made during a coordinated International Energy Agency release of emergency oil stocks earlier this year. That action was intended to address supply disruption linked to the war involving Iran. The EU did not immediately respond to a request for comment on the US allegations.
Eurostat's latest available figures, for May 2025, put EU emergency stocks of heating oil and diesel at about 39 million metric tonnes. Germany held 5.6 million tonnes and France 8.2 million, together around 35% of the bloc's strategic reserves.
EU rules require member states to maintain oil stocks equivalent to at least 90 days of net imports or 61 days of domestic consumption, whichever amount is larger. The bloc as a whole complies with those requirements.
Europe has reduced its reliance on Russian fuel imports since Russia's invasion of Ukraine, while cutting refining capacity substantially over the past two decades. It has consequently become more dependent on diesel imports from the United States, especially as conflicts linked to Iran constrain supplies from the Middle East.
In March, the IEA agreed to release roughly 400 million barrels from emergency stocks worldwide. The United States committed 172 million barrels, while EU countries pledged 20% of the total. Energy Commissioner Dan Jørgensen said on Tuesday that he had discussed a possible further release with IEA Executive Director Fatih Birol; the Commission has not decided whether to ask member states for additional volumes.