THE G7 AGREES TO RELEASE FUEL RESERVES
The measure announced on October 3 seeks to cushion the impact of high prices; Its effect will depend on the delivery schedule and demand.
Reuters reported that the G7 agreed to release 100 million barrels of diesel and other petroleum products through the International Energy Agency, in response to rising fuel prices.
A release of reserves can add temporary supply to the market. It does not guarantee an immediate drop in prices: transportation, refining capacity, demand and geopolitical risks also play a role.
To evaluate the effect, it will be necessary to follow the volumes actually delivered, the dates, the wholesale prices and the final cost for companies and households. The announcement alone does not confirm when the fuel will arrive in each market.
Regional reading: importing and exporting economies may feel different effects. Market information should be dated and not confused with real-time quotes.