The group of seven nations, which includes the UK, France, Germany, Italy, Canada, Japan and the US, says that 100 million stockpiled barrels of oil will be released over the next four months. A “frontloaded substantial diesel release” will also be made available in the next 20 days in the hope of bringing black pump prices down, while leaders will meet again at a later date to “discuss the possibility of additional diesel releases”.

High prices impact diesel car interest

In the meantime, high fuel prices appear to be pushing buyers away from internal combustion vehicles into EVs. Between March and the end of September 2026, enquiries – i.e requests to dealers for quotes or test drives – on Carwow dropped by 33 per cent, while interest in petrol cars only fell by around a quarter. At the same time, enquiries for EVs rose by 28 per cent; curiously, enquiries for hybrids dropped by eight per cent, suggesting high fuel prices are turning drivers away from fossil fuels altogether and forcing them to consider full-electric models. 

In fact, enquiries for diesel fell by 14 per cent in the last week alone compared to the week prior, driven largely by a recent spike in the cost of fuel. Diesel cars have so far accounted for just four per cent of new car registrations in 2026, which is perhaps no surprise given the dwindling number of options available to buyers. Late last year, Auto Express discovered that only 91 diesel car models were on sale in the UK, compared with 240 a decade prior. That number has reduced even further in the months since.

Record prices for diesel fuel

Sadly, there’s more pain in store for existing diesel car owners; the RAC expects diesel prices to rise even further than the current £2 per litre average, with the typical motorway service station already charging as much as £2.16. The cost to brim the average diesel car’s 55-litre fuel tank now stands at £110 – over £30 more than at the start of the US-Iran war that’s caused the cost of petrol and diesel to spiral out of control.