G7 countries are set to release 100 million barrels of oil as governments seek to ease mounting fuel costs during the eight-month war with Iran, which has pushed up petroleum prices in the United States and overseas.

The move comes as President Donald Trump faces declining approval ratings, with the conflict and his trade disputes contributing to higher U.S. prices for oil and other goods.

Fuel costs have risen sharply throughout the war. Trump has repeatedly argued that the economic burden is justified to prevent Iran from obtaining nuclear weapons. He has also maintained that prices will fall once the war ends, although there is currently no clear indication of when the conflict might conclude.

U.S. diesel price remains near record levels

The national average price for a gallon of diesel in the United States stood at $6.37 on Friday, according to AAA. That was below the record $6.52 per gallon reached on Sept. 22, but remained at a notably high level.

Trump spoke overnight with French President Emmanuel Macron, who chairs the G7, about the need to respond to rising fuel prices and ensure the availability of petroleum products, the French Embassy in the United States said.

Macron later led a videoconference of G7 leaders on Friday to address the issue. The discussions focused on the pressure created by escalating fuel costs and the supply of petroleum products.