Leaders from the G7 bloc of advanced economies on Friday agreed to work in a coordinated manner to help bring diesel prices down.
They say they will make production more flexible, release strategic reserves of up to 100 million barrels within four months, and avoid energy restrictions between partner countries.
The commitments came at an urgent virtual meeting convened after US President Donald Trump threatened a ban on diesel exports unless Europe agreed to release its reserves.
Average diesel prices in America are well over $6 a gallon – up around 70 per cent from before the start of the Iran war.
In the UK, average diesel prices have also hit a record high, reaching £2 a litre for the first time.
