Trump says he may ask Europe to release diesel reserves

US President Donald Trump said Thursday that he may ask European countries to release some of their diesel reserves to help bring down fuel prices.

Asked about the proposal, Trump said he may ask European countries to make some of their stockpiles available as part of efforts to ease prices at the pump.

“We may do that. They have some diesel,” he said. “The prices are coming down. All prices are coming down.”

Trump also said oil prices could fall sharply when the war with Iran ends.

“Iran will never have a nuclear weapon,” he said, adding the conflict “will very soon be ending one way or the other.”

“One way or the other, it’s going to end very quick,” he said. “And when that ends, oil prices are going to drop like a rock.”

The comments came amid reports that the Trump administration has been urging European countries to release emergency diesel inventories to ease global fuel prices.

Later in remarks during a site visit in Texas, Trump said Iran was experiencing inflation of “almost like 312%,” claiming its currency had become “valueless.”

He also claimed that US forces had recently taken more oil through the Strait of Hormuz, saying the US Navy had imposed a blockade and was the only force able to get through.

“When that happens, when that ends, which will be very soon. One way or the other, it is going to end,” he said, referring to the war.

“Either they'll do something very proper and smart, or they won't be around very long.”