President Donald Trump charmed European allies into releasing 'massive' stockpiles of oil just before the midterms as the global fuel crunch pinches budgets and frustrates voters.

With a month to go before Election Day on November 3, the president began calling European leaders to discuss the release this week.

Trump spoke with French President Emmanuel Macron Thursday night and with the G7 leaders Friday morning to successfully negotiate the release of European diesel stockpiles, a White House official said. 

'Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil,' the president wrote on social media Friday morning. 

'The process will begin immediately.'

The announcement came shortly after a G7 meeting with European partners discussing the release. 

The International Energy Agency will implement the commitment by coordinating a release of 100 million barrels over four months, according to a statement from the G7 leadership. 

US diesel fuel prices hit a record high on September 22, reaching $6.53 per gallon, according to AAA. The decision to release diesel from European stockpiles could ease global prices by unlocking more supply. 

As of Friday, the national average price for a gallon of regular gas is $4.40, roughly 10 cents cheaper than last week but still 20 cents higher than last month and roughly $1.20 higher than at this point last year. 

The G7's statement also condemned Iran's hostile actions harming international trade, energy security and the global economy.

'We call for the immediate and full restoration of navigational rights and principles in the Strait of Hormuz,' the statement added. 

The G7's decision comes on the heels of a Reuters report in which sources allege US officials were threatening a diesel export ban targeting the European nations that did not release the stockpiles. 

Reports have indicated that the administration was weighing a ban on diesel exports to keep supply on US shores amid heightened energy insecurity. 

Still, US energy companies have pushed back, warning that any ban would only further drive up prices.