G7 to release up to 100 million barrels of oil as diesel hits £2 a litre

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G7 to release up to 100 million barrels of oil as diesel hits £2 a litre

G7 leaders have bowed to Donald Trump’s demands, agreeing to release up to 100 million barrels of their diesel and crude oil reserves within four months.

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The US President had threatened to cut US diesel exports if they didn’t – keen to bring down fuel prices for voters ahead of next month’s mid-term elections.

Prices continue to rise here too – diesel reaching an average of two pounds a litre today for the first time.

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Date: October 2, 2026