The International Energy Agency announced that its members would release more than 20 million barrels of diesel as soon as possible amid surging global fuel prices. This quantity is equivalent to less than one day of global diesel demand or slightly more than five days of U.S. consumption. In the United States, the retail price of diesel stood at an average $6.32 per gallon Thursday, more than 70% above the same period last year. G7 nations had announced earlier this month that they would deploy substantial diesel stocks over 20 days. Prices have surged as Ukraine attacked Russian refineries and Iran and its Houthi allies targeted energy facilities around the Persian Gulf.
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