France says G7 nations have agreed to release 100 million barrels of oil, including ‘substantial’ amounts of diesel

The national average for a gallon of diesel in the U.S. was $6.37 on Friday, according to AAA, after hitting a record $6.52 on September 22. The Group of Seven industrialized nations agreed to release 100 million barrels of oil, beginning with substantial volumes of diesel, as fuel prices hit record highs in the United...

G7 to release up to 100m barrels of oil and diesel from reserves, Macron says G7 countries plan to release up to 100 million barrels of crude oil and diesel from strategic reserves over four months to ease global pressure on suuplies and prices amid the ongoing crisis in the Strait of Hormuz, French President Emmanuel Macron said. Members also agreed to keep diesel exports flowing within the group, with Macron saying they would impose “no ban” on those shipments. “It has been agreed to continue coordinating actions to help facilitate the exit of shipments from the Strait of Hormuz,” Reuters quoted Macron as saying.

A G7 joint leaders' statement on the plan said: "We have agreed on decisive, coordinated measures to stabilize immediate energy supplies, shield households and businesses from price shocks." PARIS (AP) — France says G7 nations have agreed to release 100 million barrels of oil, including ‘substantial’ amounts of diesel.