Paris:France has announced plans to release 10 million barrels of diesel from its strategic reserves over the next three months to help reduce fuel prices.

According to Anadolu Agency, Prime Minister Sebastien Lecornu stated that the diesel, purchased before the recent price surge, will be sold at cost price. This initiative is expected to decrease diesel prices at the pump by approximately 12 to 18 euro cents (around $0.13-$0.20) per liter.

The measure will be formalized through a decree, and Lecornu plans to meet with fuel distributors soon to discuss its implementation. This move comes in response to the rising fuel costs in France amid global energy market disruptions.

Lecornu also addressed concerns regarding electricity prices, assuring that they should remain stable this winter. Additionally, he announced that energy payments for lower-income households would be distributed starting in January, rather than in the spring.

On another front, Lecornu committed to ongoing dialogue with high school students protesting staff shortages, overcrowded classrooms, and inadequate facilities. Discussions are set to resume Thursday, with governmental responses to be presented by the end of October.

Finally, Lecornu reiterated his fiscal objective of reducing France's public deficit to 5% of GDP by 2027, following a forecasted deficit of 5.4% in 2026.