Emmanuel Macron, the President of France, announced that the G7 group of nations will release "up to 100 million barrels" of diesel and crude oil within four months. This decision comes after pressure from former U.S. President Donald Trump, who has been urging European countries to lower fuel prices, especially for diesel. The G7 includes some of the world's most advanced Western economies: Germany, Canada, the United States, France, Italy, Japan, and the United Kingdom. Macron made the announcement following a meeting of G7 leaders, stating that the decision was to release strategic oil reserves under the coordination of the International Energy Agency (IEA). Trump had been pushing European countries for several days to release their oil stocks and celebrated the announcement, saying that "Europe had just accepted to put a massive quantity of its abundantly stored diesel on the market." The United States had previously warned Europe that it was "in its interest" to act together on fuel availability, while hinting at the possibility of a ban on American diesel exports. Such a ban could cause a 40% to 50% rise in European diesel prices, according to a study by Oxford Economics. In France, this could push diesel prices well above the 3 euros per liter mark. Europe has grown more reliant on American diesel since the embargo on Russian petroleum products and supply disruptions in the Middle East due to the war with Iran. France consumes about 600,000 barrels of diesel per day and imports about half of that. According to the latest data from Eurostat, in May 2025, the European Union held reserves of 39 million tons of diesel, or about 290 million barrels. France had the largest share of these reserves (21% of the total), followed by Germany and Spain. In March, the IEA announced the release of 400 million barrels of oil, 20% of which came from the European Union. However, not all of this oil has yet reached the market. On September 29, Fatih Birol, the president of the IEA, clarified that "about two-thirds have been released and have arrived on the markets, and the remaining third is still to come."