G7 decides to pop the trunk on its secret diesel stash
The world's biggest economies are finally cracking open their emergency fuel reserves because the pump prices are officially out of control.
When the G7 gets together, you usually expect them to talk in circles for days. This time, they actually did something: they are dumping 100 million barrels of crude and diesel onto the market to stop the bleeding at the gas station. The goal is to stop us from weeping every time the nozzle clicks shut.
Donald Trump claims this is Europe's heavy lifting, while Emmanuel Macron is busy insisting everyone is playing nice and nobody was bullied into this. Fatih Birol from the International Energy Agency is already claiming prices are cooling off, which is a nice way of saying panic mode is officially on pause.
Governments are essentially trying to play god with the global economy just to keep the daily commute affordable.
Source: Politico
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