Just 15 days ago, the Commission reassured Europeans that there was no problem of diesel supply in the EU, because demand was covered by increased European production and alternative imports.
Today, however, things are very different and already one after the other European governments are announcing tax relief measures to limit the burden on consumers from the large price increases at the pumps, while at the same time the statement made by Donald Trump in the early hours of Wednesday that he gave instructions to stop the exports of American diesel is seriously troubling!
Until late yesterday, no ban or reduction in exports from US refineries had been announced, although there is a lot of political pressure on the Trump administration from Republican and Democratic candidates for the November midterm elections, as the price of gasoline and diesel has taken off in most states and affects both transport and production, Especially the agricultural sector.
A gallon of diesel in the U.S. averaged $6.53 on Tuesday, considered the highest average ever recorded and more than 75% higher than a year ago. The price of gasoline, also at high levels, averages $4.50 a gallon.
The Minister of Energy disagrees
The US Department of Agriculture already called on the White House last week to take action on diesel prices. Agriculture Secretary Brooke Rollins said she spoke with Trump about the issue, calling the high prices a "real concern," according to Politico.
For his part, however, US Energy Secretary Chris Wright said - before Trump's controversial statement - that an export ban would lead to a temporary surplus of diesel in the US domestic market (and price reductions at the pumps), but at the same time it would push US refineries to reduce production rates, which would quickly reduce fuel production and lead again to increased prices per gallon in the domestic market. "If you start putting obstacles in the way of flows, you will very quickly reduce production and have less supply. We need more fuel supply, not less," Wright warned.
Mr. Wright returned yesterday, hours after Trump's statement, to insist on his disagreement with the president: "If we can't export the diesel that comes from our refineries, we will run out of space to store it and we will have to reduce refining in the US, which will put upward pressure on gasoline and jet fuel prices in the US as well." he added.
What Trump said
"I have said let's not send (export) diesel. We produce a lot of diesel... I have asked for it," Trump told reporters in the early hours of Wednesday (Cyprus time).
But the US Treasury Secretary, Scott Bessed, did not rush to consent. He said only that the government is considering whether a ban on diesel exports - full or partial - is feasible.
In the event that the US government proceeds with restrictions on the quantities of diesel that will (also) end up in Europe, it is certain that the energy crisis that is already affecting the EU will become deeper and will perhaps turn into a crisis of sufficient supply and not just a problem of high prices.
Reuters points out that total US oil exports have increased by more than 20% since March (start of the war against Iran), compared to the 2025 average and reached 9 million barrels per day. The agency adds that U.S. diesel inventories have fallen to their lowest level for this season in more than four decades and are about 13% below 2025 levels.
According to the agency, after Trump's statement, the premium (difference) of European low-sulphur gasoil compared to Brent reached about $95/barrel, which is considered a record difference. On the other hand, the price of Brent was early yesterday Wednesday at its lowest level since September 8, at $97.36, although new ups and downs and a rise of just over $100 followed.The president of the Commission said last week that imported fossil fuels have cost Europe an additional 90 billion euros. Since the start of the war in Iran, without a single additional amount of energy having been added. These costs are passed on throughout the economy, causing inflationary pressures (in Cyprus inflation slightly exceeded 5%) and shrinking real income for households.
Do something, Macron asks
Until yesterday, there was no official reaction from the European Commission to French President Macron's letter to Ursula von der Leyen on the hot topic of fuel prices and the reduction of stocks ahead of winter.
In his letter, Macron asked Brussels to take urgent measures to boost Europe's supply of diesel and jet fuel, as the prolonged closure of the Strait of Hormuz and renewed attacks on energy infrastructure in the Middle East threaten to further limit global oil supplies. The letter was sent before Trump's statement about a possible ban on diesel exports from the US coast.
Macron pointed out to the Commission president that the European oil market has so far been supported by higher refinery production, weaker demand in Asia and the consumption of existing reserves. However, he warned that this "cushion" is rapidly being lost, as in France 14% of gas stations are facing shortages or are worried that they will face shortages soon.
The French president also writes, according to Euronews, that European dependence on imports from the Middle East is particularly important for jet fuel, where 36% of imports come from the region, and for diesel at 18%.
It urged the Commission to temporarily relax some EU fuel quality standards to allow refineries to produce more jet fuel and diesel.
Karagiorgis is not optimistic
Data published on Monday by Eurostat showed that from August 2025 to August 2026 the average price of fuel in the EU has recorded an increase of 23.8%.
The largest increases were recorded in Bulgaria (+34.5%), Lithuania (+28.8%), Finland (+27.6%), Germany (+27.5%) and France (+27.4%).
The smallest price increases were recorded in Hungary (+1.3%), Sweden (+6.1%), Ireland (+11.7%) and Estonia (+14%). In Cyprus the increase was 19.1% and in Greece 16%.
In September, further increases are recorded in several countries, especially in diesel, which in Cyprus has already reached €2 per liter at many gas stations.
According to the Retail Fuel Price Observatory, on Wednesday morning the average price of unleaded 95 was €1.70, with the lowest at €1.595 and the highest at €1.789, while the price of diesel was close to €2 for diesel. Specifically, the average price was €1,977, with the lowest at €1,869 and the highest at €2,076.
The Director of the Consumer Protection Service, Konstantinos Karagiorgis, told KYPE that "we cannot predict what will happen in the future", when asked about the prices of the shipments that are expected to be received in the next period. However, he added that, recording the current situation "we cannot say that it is very optimistic", given the continuous increases in refinery prices.
Yesterday it was the turn of DISY to request in an announcement the adoption of consumer support measures. Inflation is consolidating and the cost of living continues to rise, creating suffocating pressure on households and businesses. "The longer the Government delays acting, the more difficult it will be to curb high prices. Continuous supervision and strict surveillance of the market is required today more than ever," it is emphasized.
