▲ President Trump
U.S. President Donald Trump announced on the 2nd, local time, that Europe has agreed to immediately release its strategic diesel reserves.
Writing on social media platform Truth Social, President Trump stated, "Europe has just agreed to release a massive amount of strategic diesel."
He added, "This process will begin immediately."
His announcement comes just a day after he visited Texas the previous day and, when asked if he would ask European nations to release their diesel reserves, remarked, "We can do that. They have a fair amount of diesel." Now, just a day later, he has announced that Europe has agreed to the release.
However, President Trump did not specify which countries would participate or the exact volume of diesel to be released.
President Trump's announcement comes as soaring domestic diesel prices, driven by the wars in Iran and Ukraine, have heightened voter dissatisfaction with the Trump administration and the ruling Republican Party, with the midterm elections just about a month away.
As of this day, the average price of diesel in the United States stands at $6.37 (approx. 8,568 won) per gallon (1 gallon is approximately 3.78 liters).
One year ago, the price of diesel was $3.70 per gallon, which is a little more than half of the current price.
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