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Impact of 100 million barrel release on diesel prices
Reports have anticipated that the G7 countries' plan to release up to 100 million barrels from their oil and diesel reserves over the next four months could lead to a 15 to 20% decrease in crude oil and diesel prices in the last quarter of 2026. It is also expected that the average diesel price will drop to between $80 and $90 per barrel in the first half of 2027, compared to the current level of around $190. This move is part of efforts to lower fuel prices and counter the impact of Western sanctions on Russia, with a potential effect of reducing the global diesel supply gap, which currently ranges between 1.5 and 2 million barrels per day. Such developments are likely to cause a significant decline in the prices of petroleum products and natural gas.
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