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    "original_url": "https:\/\/www.nytimes.com\/2026\/10\/02\/business\/diesel-reserves-g7.html?emc=edit_na_20261002&nl=breaking-news&segment_id=227426",
    "parsed_content": "AdvertisementSKIP ADVERTISEMENTSupported bySKIP ADVERTISEMENTU.S. and Allies Agree to Release Diesel Reserves as Prices SoarThe Group of 7, which includes Britain, France and Japan, announced the release of 100 million barrels over four months, effective immediately.Listen \u00b7 4:06 min Share full articlePresident Trump made the announcement on social media on Friday. Credit...Doug Mills\/The New York TimesBy Lisa Friedman and Rebecca F. ElliottLisa Friedman reported from London and Rebecca Elliott from New York.Oct. 2, 2026Updated 11:25 a.m. ETSee more of our coverage in your search results.Encuentra m\u00e1s de nuestra cobertura en los resultados de b\u00fasqueda. Add The New York Times on GoogleAgrega The New York Times en Google The world\u2019s wealthiest industrial nations agreed on Friday to release diesel from their reserve stockpiles to help ease a growing crisis over record-high prices driven mostly by the war in Iran.Under the plan, the Group of 7 nations \u2014 the United States, France, Italy, Germany, Japan, Britain and Canada \u2014 will release 100 million barrels of diesel and crude from their strategic stockpiles over the coming four months. That is equivalent to around one day\u2019s worth of global oil demand. The effort will be coordinated by the International Energy Agency.Calling the plan \u201cdecisive, coordinated measures to stabilize immediate energy supplies\u201d and curb price spikes, the Group of 7 nations said in a statement that they would also make a \u201csubstantial\u201d release of diesel within 20 days.The group did not specify how much of the fuel to be released would be diesel and how much would be unrefined crude oil. Diesel and related fuels make up roughly 28 percent of the world\u2019s oil demand, according to the I.E.A., and have been in especially short supply because military strikes on energy infrastructure in the Middle East and Russia have severely damaged refineries, reducing the world\u2019s capacity to turn oil into the fuels that consumers use.AdvertisementSKIP ADVERTISEMENTThe decision comes amid threats by President Trump to impose a ban on the export of U.S. diesel, a move that has drawn fierce opposition from both American oil companies and European leaders. Retail diesel prices had soared to nearly $6.50 a gallon in recent weeks, putting pressure on Mr. Trump and Republicans to find ways to lower prices ahead of the midterm elections in November.\u201cEurope has just agreed to release a massive amount of their heavily stocked Diesel Oil,\u201d Mr. Trump said on social media of the G7 announcement.President Emmanuel Macron of France, who is the current chair the Group of 7, convened the videoconference of leaders, saying that Mr. Trump had committed to not impose an export ban on diesel fuel.\u201cWe cannot wholly rule out export constraints governing destinations outside the G7, but odds now look lower,\u201d Clearview, an energy research firm in Washington, said in a note to clients on Friday.Mr. Macron said he expected the release of emergency oil and diesel to cause gasoline and fuel prices to \u201cdrop at the pump as quickly as possible.\u201dAdvertisementSKIP ADVERTISEMENTThe price of diesel futures in the United States fell 8 percent on Friday morning. Prices that consumers pay at the pump typically follow, albeit more slowly.A U.S. export ban on diesel would have been deeply damaging in Europe, which has become increasingly dependent on American fuel after banning Russian imports over Russia\u2019s invasion of Ukraine in 2022.Europe imports about 1.5 million barrels a day, with a third coming from the United States, according to S&P Global, a market data firm.\u201cEurope has been very reluctant to let go of their stocks because they are concerned about a prolonged disruption, and they wish to hoard the supplies they have,\u201d said Robert McNally, president of Rapidan Energy Group, a research and consulting firm in Washington.China, another big diesel supplier, recently started restricting fuel exports again. So far, Mr. Trump has not followed suit. The more time passes, the less effective a U.S. export ban would be at lowering domestic diesel prices before the November elections. It also would risk pushing up the price of gasoline, which fuels many more vehicles in the United States.Mark Landler contributed reporting from Paris.AdvertisementSKIP ADVERTISEMENT",
    "published_at": "2026-10-02T14:51:30+00:00",
    "author_name": "Lisa Friedman, Rebecca F. Elliott",
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    "ai_simplified_title": "G7 Nations Release Diesel Reserves to Combat Soaring Prices",
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