Hello and welcome to World Today.
I'm Ding Han in Beijing.
Coming up, EU countries hold emergency consultations on releasing diesel reserves.
South Korea hits back at President Donald Trump's investment claims.
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EU nations are holding an emergency meeting with the aim of developing a unified response to soaring diesel prices.
The meeting comes a day after the United States caught
on its European allies to immediately release strategic reserves to stem the crisis.
Washington is piling on pressure to get European help with fuel costs.
Was U.S. President Donald Trump floating the possibility of banning diesel exports?
Average U.S. Diesel prices have surged by more than 70% to $6.39 a gallon since the start of the Iran war.
So for more, joining us now on the line is Dr. George Zagopoulos,
Senior Research Fellow with CIFE, a European research organization.
Thank you very much for joining us, Dr. George Zagopoulos.
Thank you for having me.
It is reported that both the war in Ukraine and the Iran conflict have affected the diesel prices in the United States.
First of all, can you help explain why this is the case?
Every time a crisis breaks out, for example, a war breaks out, it has an impact on oil prices.
And when oil prices are on the rise, fuel prices are also on the rise, including diesel prices.