White House urges EU to draw down diesel inventories
USO•The White House has urged the European Union to release emergency diesel inventories to lower global prices as the administration considers options to ease fuel costs before November’s midterm elections.
1. Options to ease prices
Two sources familiar with the effort said the White House urged the EU to draw down emergency diesel inventories. The administration is also considering restricting U.S. diesel exports and working with refiners to increase domestic supplies.
2. Political pressure
Soaring diesel prices have become a political headache for Trump and Republicans, particularly in farm states where diesel is critical to agriculture, trucking and manufacturing.
