G7 nations will release 100 million barrels of diesel over four months to address soaring prices. The move follows US demands for European allies to release reserves to curb costs.
France and Germany confirmed the release, with Macron stating the G7 will monitor developments. Trump urged Europe to release reserves to ease prices linked to the Iran war and trade policies.
The decision comes as EU nations prepare for an emergency meeting on Oct 2. EU trade chief warns US diesel export ban could harm European economic performance.
Trump considers a ban on US diesel exports, which could raise petrol prices. French officials stress the need for balanced solutions to lower global fuel costs.