After threatening to ban U.S. exports of diesel fuel, Trump admits 'we were never going to do it' | Fortune

The G7 says it will release 100 million barrels of oil and fuel products in coming weeks, starting with “substantial” diesel after U.S. prices hit record levels. President Donald Trump said the diesel release would begin “immediately,” matching a G7 pledge to front-load diesel within 20 days and distribute the rest over four months. The move comes amid political pressure ahead of Nov. 3 midterm elections. On Friday, the U.S. average diesel price was $6.37 a gallon, up from a record $6.52 on Sept. 22. European diesel records also loom, though analysts said releases could eventually lower prices by 25–50 cents per gallon.