Leaders of the Group of Seven advanced economies have agreed to coordinate measures aimed at reducing soaring diesel and oil prices.
French President Emmanuel Macron said the G7 countries would make fuel production more flexible to maximise refinery output.
The countries also agreed to release strategic reserves of up to 100 million barrels within four months, in coordination with the International Energy Agency.
The G7 further agreed to avoid measures that could restrict the movement of energy and petroleum products between partner countries.
The agreement came after US President Donald Trump said he might ask European countries to release their diesel reserves as his administration considers restricting US diesel exports.
Trump later said Europe had agreed to release a “massive amount” of its diesel reserves and that the process would begin immediately.
UK diesel prices have reached record levels, with the RAC reporting that the average price has approached £2 per litre.
However, UK Transport Minister Keir Mather said the country’s diesel supply remains “robust” and “resilient”, with Britain sourcing fuel from a wide range of suppliers.
