G7 leaders are holding urgent discussions on global energy markets as diesel prices continue to rise and concerns grow over fuel supplies.
French President Emmanuel Macron is chairing a video meeting with G7 leaders to discuss the situation, including the supply and trading of crude oil and refined fuels. France has also called on European countries to consider releasing additional diesel reserves.
The talks come as the average UK diesel price reaches £2.00 per litre for the first time. RAC figures put the latest average at 200.01p per litre, making it more expensive for drivers to fill their vehicles.
The crisis has been linked to disruption across global fuel markets, including the conflict involving Iran, damage to refineries and restrictions on fuel exports from major suppliers.
The United States has also been pressing European countries to release diesel from emergency reserves. Washington has warned that it could restrict US diesel exports if additional supplies are not made available.
European countries are considering a French proposal involving the release of around 50 million barrels of diesel, while International Energy Agency members could potentially release another 50 million barrels of crude oil.
For Britain, the situation is particularly significant because the country imports a large share of the diesel it uses. Higher fuel costs can also feed into the wider economy because diesel is heavily used by transport, logistics and businesses.
UK ministers have sought to reassure the public that the country has a diverse and resilient fuel supply, despite the record prices.
The G7 discussions are expected to focus on coordinated measures to improve fuel availability and reduce pressure on consumers without creating further disruption to international energy markets.