This action follows a G7 agreement to discharge 100 million barrels of oil and diesel, prompted by Donald Trump's threat to ban US diesel exports to force Europe to use its own stockpiles. The discharge was coordinated via an EU Energy Task Force call after Poland indicated it would tap its own reserves if other members followed. While France and Germany hold as much as 400 days of diesel in storage, the International Energy Agency has seen nearly one sixth of its emergency oil spent since March as US diesel prices hit $6.50 a gallon.
Tuesday, October 20, 2026
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France Releases 10 Million Barrel Diesel Stock to Cut Prices After G7 Deal
Commodities13 days ago
The administration of Prime Minister Sébastien Lecornu is attempting to mitigate the impact of the US-Israel war on Iran by mobilizing government energy assets. France will release 10 million barrels of diesel from its strategic reserves to lower costs for drivers, a move Lecornu says should reduce pump prices by roughly 50 to 75 cents per gallon. The announcement on Wednesday comes as France faces a deteriorating fiscal situation and internal pressure from agricultural crises and student protests.
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