Macron urges G7 to coordinate action to lower diesel prices - Sarmad

French President Emmanuel Macron has called on the Group of Seven (G7) nations to coordinate measures aimed at lowering fuel prices and ensuring supplies of refined products, without imposing export restrictions, as the United States pressures European countries to release additional diesel reserves into the market.

The Élysée Palace said on Friday that Macron intends to contact his G7 counterparts to discuss measures related to global crude oil and refined product markets, following a phone conversation with US President Donald Trump.

The Élysée added that Macron emphasized the need for G7 cooperation to address rising fuel prices and ensure refined product supplies without imposing export restrictions.

Following the phone call between Macron and Trump, the Élysée stated that the French president “stressed that G7 countries have a shared interest in acting in a coordinated manner, without imposing export restrictions,” noting that Macron, who also spoke with Canadian Prime Minister Mark Carney, “plans to hold a video conference of G7 leaders as soon as possible to ensure coordination of the measures to be taken.”

A source familiar with the matter told Reuters on Friday that France has asked its European Union partners to release additional diesel from strategic reserves, in response to US pressure on European countries to increase market supplies in an effort to curb rising fuel prices.

EU member states are holding a meeting on Friday to try to formulate a unified response to soaring diesel prices, amid pressure from Washington, which believes EU countries should draw on their diesel reserves to support the market.