The G7 nations announced a plan to release a total of 100 million barrels of oil. The schedule starts with a “substantial” amount of diesel during the first twenty days, followed by the rest of the barrels over four months.

U.S. President Donald Trump shared the decision on his Truth Social account, saying Europe will begin the diesel release immediately. His post highlighted the coordinated effort to address high fuel prices.

France, which holds the rotating G7 presidency, issued a statement after a videoconference led by President Emmanuel Macron. The International Energy Agency will coordinate the release on behalf of the G7 members and partners.

In Canada, diesel averaged C$2.63 per litre, while in Vancouver the price was about C$2.71 per litre. Such high costs put strong financial pressure on transport truck drivers and farmers who depend on diesel for their vehicles and equipment.

The G7 statement also reaffirmed that member countries will not impose export restrictions on energy products. This pledge aims to keep global fuel supplies flowing while the coordinated release is carried out.

The overall goal of the release is to combat the surge in fuel prices that have been affecting transportation and agriculture worldwide. By adding more diesel to the market, the G7 hopes to ease the strain on sectors that rely heavily on the fuel.