Why will the G7 release 100m barrels of European fuel reserves? | BBC News

By BBC News

Community Score: 50% | 160.1K views | 1w

0 community ratings: null thumbs up, null thumbs down

France's President Emmanuel Macron says the G7 group of advanced economies will release up to 100 million barrels of diesel and oil reserves to try to control rising prices. US President Donald Trump had been considering a ban on US diesel exports, which could have cut American fuel prices in the short term but pushed them up elsewhere. It's as the average diesel price in the UK has passed £2 a litre for the first time ever, adding to inflationary pressures on day-to-day products. And with vital waterways like the Strait of Hormuz blocked and energy infrastructure damaged, BBC Verify investigates how much oil is actually getting out of the Middle East. Subscribe to our channel here: https://bbc.in/bbcnews For the latest news download the BBC News app or visit BBC.com/news #G7 #Fuel #BBCNews

Tags: bbc, bbc news, news, world news, breaking news