France to Release Diesel Reserves Amid Protests and Market Concerns
Prime Minister Sebastien Lecornu announced France will release 10 million barrels from its strategic diesel reserves in an effort to reduce fuel prices amid widespread student protests over underfunding in education. The move aims to ease cost-of-living pressures, with the government estimating a price reduction of 12-18 euro cents per liter at the pump. Protests have led to school closures and clashes between students and police, including an incident where a 15-year-old boy lost his hand due to police action. The decision comes as France faces mounting economic challenges, with bond markets punishing the government for rising debt levels. The yield on French 10-year bonds has climbed significantly this year amid global market volatility. Lecornu is also attempting to pass a budget that includes cutting public spending by around €43 billion in a divided parliament where he lacks a majority.
Topics: cost of living education funding energy prices protests strategic reserves