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Macron Calls Trump Amid Global Oil Shock, France Pushes G7 Action on Fuel Crisis
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News18•02-10-2026, 20:02
Macron Calls Trump Amid Global Oil Shock, France Pushes G7 Action on Fuel Crisis
- •France is pushing for coordinated G7 action to address surging fuel prices and global oil supply concerns, with a videoconference of G7 leaders planned soon.
- •French President Macron spoke with US President Trump and Canadian Prime Minister Mark Carney about the global energy situation and the need for international cooperation.
- •Global fuel prices have surged due to the US-Israel war on Iran, disruptions in the Strait of Hormuz, and the Russia-Ukraine conflict, pushing crude oil above $100 per barrel.
- •Refinery shortages, including Ukrainian strikes on Russian refineries and Chinese export restrictions, have exacerbated the fuel supply crisis, particularly for diesel.
- •Record fuel prices in the US, UK, and other nations have led to inflation, protests, and government interventions, with G7-IEA coordination eyed for potential relief measures.
Key Questions Answered
Fuel prices surged globally due to the US-Israel war on Iran, disruptions in the Strait of Hormuz, and the ongoing Russia-Ukraine conflict, which caused crude oil to surpass $100 per barrel and reduced oil flows significantly.
France, holding the G7 presidency, is working with the International Energy Agency and planning an emergency G7 leaders' videoconference to coordinate measures that ease price pressures and secure crude and refined product supplies.
In the United States, diesel reached a record around $6.52 per gallon and petrol hit about $4.43 per gallon across forty-seven states, while UK diesel crossed £2 per litre for the first time.
