The Group of Seven wealthy democracies agreed on Friday, October 2, to release 100 million barrels of oil and fuel from emergency reserves, starting with large amounts of diesel after the fuel hit record prices in the United States.

The release, coordinated by the International Energy Agency, will begin immediately and run over four months, with a front-loaded, substantial diesel release by members and partners within the first 20 days.

President Donald Trump said the diesel release would happen immediately. U.S. and European diesel futures slumped after the announcement, while Brent crude futures fell at first before recovering.

Diesel prices have soared during the war with Iran, which has disrupted oil shipments from the Gulf. Last month U.S. diesel hit a record of $5.85 a gallon, raising costs for truckers, farmers and the price of almost everything that moves by road.

For Haitian families in the diaspora and in Haiti, where fuel costs ripple through food and transport prices, the move could bring some relief if prices fall.