France to Release 10 Million Barrels of Diesel

France will release 10 million barrels of diesel from its strategic reserves to ease rising fuel prices, with Prime Minister Sébastien Lecornu expecting the measure to lower pump prices by up to 18 euro cents per litre.

France Moves to Ease Fuel Price Pressure

French Prime Minister Sébastien Lecornu announced on Wednesday that the country would release 10 million barrels of diesel from its strategic reserves to help ease pressure on the fuel market.

The fuel will be made available to distributors across France under a measure expected to last three months. Lecornu said the release could mechanically reduce diesel prices at the pump by between 12 and 18 euro cents per litre.

He added that he would soon sign a decree authorising the operation, as the government seeks to relieve the financial pressure on motorists amid persistently high fuel costs.

Government Seeks to Contain Energy Costs

Lecornu also called on state-owned electricity utility EDF to maximise its production capacity to help prevent electricity prices from rising during the winter.

The move comes as France and other European countries face mounting concerns over energy affordability and the reliability of fuel supplies. Governments are under pressure to limit the impact of rising oil prices on households and businesses as colder weather approaches.

Middle East Conflict Drives Market Concerns

Fuel prices have continued to rise amid conflict in the Middle East and disruptions to shipping through the Strait of Hormuz, a key route for global energy supplies.

According to French television channel TF1, the average price of diesel stood at 2.35 euros, equivalent to approximately 2.63 US dollars, per litre on Tuesday. The price of SP95-E10 petrol, France’s most widely sold gasoline, reached 2.14 euros per litre.

The figures highlight the pressure facing motorists as geopolitical tensions threaten energy flows and increase uncertainty across international markets.

Slovakia Warns of Wider European Shortages

Slovak Prime Minister Robert Fico warned on Wednesday that Europe was facing serious challenges in oil and fuel supplies. He said the European energy market could come under significant pressure during autumn and winter.

Fico attributed the difficulties to several factors, including the conflict involving Iran and the United States and a gradual decline in Europe’s refining capacity. He noted that some countries that previously exported petroleum products now needed to import substantial quantities instead.

He also warned that pressure on diesel supplies was particularly acute and could push prices higher across the region.

EU Urged to Find Joint Solutions

Fico said individual measures taken by European Union member states would not be sufficient to resolve the wider challenges facing the fuel market. He expressed hope that the upcoming EU summit would produce solutions to strengthen energy supplies and address rising costs.

His comments underline concerns that the pressures affecting diesel availability could extend beyond individual countries and require a coordinated European response.

Energy Prices Set to Dominate EU Summit

Diesel prices across Europe have remained persistently high, while a threat by the US government to ban diesel exports has added to concerns over the continent’s energy security.

European Commission President Ursula von der Leyen said in a social media post on Wednesday that energy prices and the EU’s response to rising costs would be key topics at the upcoming summit.

France’s planned release of diesel reserves is one measure aimed at easing immediate market pressure. However, continuing geopolitical tensions, supply disruptions and declining refining capacity could keep energy prices a major concern for European governments in the months ahead.