Free Republic

Move was made to help bring down the soaring price of diesel and other fuels PARIS—The Group of Seven major economies agreed to release 100 million barrels of crude oil and fuel from their emergency stocks and not to restrict exports, aiming to bring down the soaring price of diesel and other fuels.On his Truth Social platform, President Trump said European nations agreed “to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately.” The G-7 statement said the reserve release would happen over four months.The announcement would seem to end the threat of a...

Donald Trump has demanded that Europe release emergency diesel reserves or risk being cut off from US supplies. Britain joined crisis talks with European allies on Thursday after the US president threatened to choke off diesel exports to France and Germany. Mr Trump is frustrated with the two EU powers, believing they have not met earlier pledges to release emergency oil and petrol supplies. His administration is calling for tens of millions of barrels of fuel to be unlocked to lower pump prices for motorists. A White House official said it was "in Europe's best interest to work with the...

The United States on Thursday told its European allies, particularly Germany and France, to "immediately" release their strategic reserves of diesel to help lower the soaring price of the refined fuel. It comes a day after President Donald Trump floated the possibility of banning US diesel exports to stem the rise in prices. At an emergency meeting of the European Union's energy task force on Friday, an EU spokesperson said the bloc "fully rejects" the ban threat, saying it would "undermine ... trust in the US." Average US diesel prices have surged over 70% to $6.39 per US gallon (€1.50...

Europe will release a “massive amount” of diesel fuel, President Trump announced Friday after pressuring allies to open their emergency reserves. “Europe has just agreed to release a massive amount of their heavily stocked Diesel,” Trump wrote on Truth Social. “The process will begin immediately. Thank you for your attention to this matter!” No details were immediately available about how many barrels of oil Europe will release and when they will hit the market. Trump’s statement followed an emergency G7 meeting, chaired by French President Emmanuel Macron, on the global energy situation. The Elysee Palace confirmed that Trump and Macron...

The U.S. average retail price of diesel was $5.97 per gallon the week of September 7, 2026, up $2.25 from its February average of $3.72, before the disruption in the Strait of Hormuz began. Crude oil accounts for 68 cents of that increase. The refining margin — the gap between the wholesale price of diesel and the cost of the crude it is made from — accounts for $1.71. The world is short of refined diesel rather than crude oil. Russia, once Europe’s largest diesel supplier, has nearly stopped exporting refined products after Ukrainian attacks on its refineries and a...

Lawmakers are pushing for a ban on diesel exports, seeking relief for truckers and farmers who are paying record high prices for the crucial fuel. But economists and oil experts say the plan could backfire — and lead to higher costs at the pump for Americans.President Donald Trump said Tuesday that he’s calling for a ban on diesel exports, and his administration confirmed they are “examining” the issue.The United States is the largest exporter of diesel in the world, sending on average 1.4 million barrels of distillate fuel a day to trading partners mainly in Latin America and Europe. Experts...

HOUSTON, Sept 23 (Reuters) - US ultra-low-sulfur diesel futures fell 4% on Wednesday after Politico ‌reported that the White House is preparing a plan to ban diesel exports for 90 days, which the Trump Administration denied. Average US diesel prices are sitting near record highs at $6.52 a gallon, according to AAA, straining the farming, transportation and other industrial ​sectors that rely on the fuel. Wars in Iran and Ukraine have sharply cut exports ​from some of the biggest producers such as Russia, Saudi Arabia and the United ⁠Arab Emirates. The Reuters Power Up newsletter by columnist Ron Bousso provides...

President Donald Trump’s administration is reportedly preparing to institute a 90-day ban on diesel exports amid soaring prices, despite Energy Secretary Chris Wright saying such a move would not bring down prices. Wright, in fact, warned a ban could actually make the situation worse in the long run. Politico reported on the upcoming ban on Wednesday, citing “five people familiar with the discussions” inside the administration. “The blunt tool ​of banning diesel exports definitely doesn’t work,” Reuters reported Wright saying on Wednesday while at an event hosted by the Economist in New York. “If you can’t ⁠export the diesel that...

Senate Republicans are clashing over a proposal endorsed by Sen. Chuck Grassley (Iowa) and other farm-state Republicans to embargo the export of diesel to increase supply and lower prices at home, something U.S. leaders last implemented during the 1970s energy crisis. Senate Majority Leader John Thune (R-S.D.) is open to the idea, but oil-state Republicans have slammed the proposal as a “gimmick.” The soaring cost of diesel is putting political pressure on Republicans in farm states such as Iowa, Kansas and Nebraska, where Democrats now have a chance to win Senate seats that weren’t viewed as competitive a year ago....

The Iran and Ukraine wars have exposed the world’s reliance on the Middle East and Russia for diesel Persian Gulf states and Russia have invested tens of billions of dollars in refineries over the past decade to grab a bigger share of the global diesel market. Now, war in both regions has sent exports plunging, squeezing supplies of a fuel that powers much of the global economy. Diesel prices are soaring—they eclipsed $6 a gallon in the U.S. for the first time last week and have kept climbing, hitting $6.45 on Friday. The surge has rattled governments and markets around...

The U.S. national average price of diesel on Thursday surpassed $6 a gallon for the first time , according to price tracker GasBuddy, as the U.S.-Israeli war on Iran and Ukrainian attacks on Russia’s refineries have squeezed supply. Diesel fuels trucks, trains, ships and heavy equipment that keep global supply chains moving. It is also crucial to running farm equipment. The latest surge in fuel costs is adding to inflationary pressures that have already strained consumers and businesses this year, creating a political headache for President Donald Trump and Republican lawmakers as they seek to defend thin congressional majorities in...

Diesel prices have climbed above an average of $6 a gallon in Arizona, putting pressure on truck drivers, business owners and consumers.

US President Donald Trump urges Americans to accept slightly higher gasoline prices as the cost of preventing Iran from obtaining a nuclear weapon and said he would soon declare the Strait of Hormuz a US territory. The comments underscore the growing political risk for Trump as higher fuel prices collide with his campaign promise to lower energy costs, with Democrats already seeking to make the economic fallout from the Iran war an issue heading into the November midterm elections. In a speech in Garden City, Trump says Americans who had to “pay a tiny little bit more for your gasoline”...

Now, I finally understand about Oil, and why it's extracted in one country, and shipped to another, instead of being refined here in the US. This gvies the Big Picture like never before, for me.

Researchers at the National Energy Technology Laboratory (NETL) are taking significant steps that can help boost production of oil and natural gas that can be recovered from unconventional formations. The method focuses on recovering these additional resources in shale and other tight reservoirs that have already produced hydrocarbons through hydraulic fracturing in primary recovery operations but still contain large amounts of oil and gas trapped within rocks. In unconventional formations, only a small percentage of hydrocarbons in place are typically extracted. While the new research could help ensure affordable, reliable, and secure energy for the United States. Primary recovery from...

Four hundred inquiries from American farmers poured in after a single interview. Not for a John Deere. Not for a Case IH. For a tractor built in Alberta with a remanufactured 1990s diesel engine and zero electronics. Ursa Ag, a small Canadian manufacturer, is assembling tractors powered by 12-valve Cummins engines — the same mechanically injected workhorses that powered combines and pickup trucks decades ago — and selling them for roughly half the price of comparable machines from established brands. The 150-horsepower model starts at $129,900 CAD, about $95,000 USD. The range-topping 260-hp version runs $199,900 CAD, around $146,000. Try...

More than 500 service stations across Australia are now without one or more types of fuel, according to the federal government, despite fuel continuing to flow into the country. In a state-by-state update before federal parliament on Tuesday, March 24, Minister for Climate Change and Energy Chris Bowen said that New South Wales had the highest number of affected sites, with at least 289 service stations without either diesel or petrol, including 164 out of diesel specifically. In Victoria, 162 service stations had run out of one or more fuel types, with Victorian Energy Minister Lily D’Ambrosio telling ABC Radio...

The Irish Government is to cut excise duty on petrol and diesel to help people with volatile fuel prices. The proposals were agreed at a leaders’ meeting on Monday evening and will be brought to Cabinet on Tuesday for approval. The Government will cut excise duty on diesel by 20 cent and petrol by 15 cent from midnight on Wednesday until end of May. A diesel rebate scheme for hauliers and bus operators is also expected, which will be backdated. The Fuel Allowance, a payment of €38 a week to help with heating costs from late September until April, is...

The EU looks set to scrap a landmark 2035 ban on new petrol and diesel cars on Tuesday, as part of a package of reforms aimed at supporting Europe's embattled auto industry. Carmakers and their backers have lobbied hard for Brussels to relax the ban over the past year – in the face of fierce competition from China and a slower-than-expected shift to electric vehicles (EVs). Set in 2023, the ban was a cornerstone of the EU's environmental Green Deal, which has come under increased pressure from businesses and right-wing politicians as the EU seeks to bolster its industry.

President Donald Trump pardoned Troy Lake on Friday. The 65-year-old Wyoming diesel mechanic spent seven months in federal prison for tweaking and removing emissions systems on ailing engines. He was originally sentenced to one year and one day in prison, but was released early to home confinement with an ankle monitor in September. He and his business Elite Diesel were also fined $52,000. Though relieved to be free of the dismal prison in which he spent his 40th wedding anniversary and his 65th birthday, Lake said that he believed he’d spend the rest of his life as a convicted felon,...