Washington has warned Europe of a potential diesel export ban unless key economies release 120 million barrels of emergency fuel supplies to combat soaring prices.

The European Commission has warned Washington against implementing a temporary ban on refined fuel shipments, arguing it would carry negative consequences for both economies.

President Donald Trump has called on Ukrainian President Volodymyr Zelenskyy to stop targeting Russian diesel infrastructure, arguing that the drone strikes are worsening a global fuel shortage as U.S. prices surge past six dollars a gallon.

India's state-run oil companies have maintained stable fuel prices despite volatile global crude trends. Meanwhile, Nayara Energy has reduced its prices.