“Finance and energy ministers of the G7 – the United States, Canada, Japan, Britain, France, Germany and Italy – were due to hold a teleconference today to coordinate action.”

“The US will take a leading role by contributing 172 million barrels. Canada will release 23.6 million barrels.”

“Berlin decided not to subsidise prices, but to limit volatility by allowing petrol stations to increase prices only once a day at midday.”

“They can cut prices at any time. Breaches could be punished with fines of up to €100,000 (almost R2-million).”

“France’s government has opted for support measures strictly targeted at the sectors most in need, marking a sharp contrast with sweeping energy price caps that badly strained public finances after Russia’s 2022 invasion of Ukraine.”

“It has announced more than €70-million (R1.38-billion) in fuel subsidies for the transport, farming and fishing industries for April, in addition to a €150 (just under R3,000) benefit for 3.8 million low-income households to help pay energy bills.”

“Most British households are protected until July from the immediate impact of higher gas prices on heating and electricity costs, due to regulated tariffs, though the government has launched a £53-million (R1.2-billion) package for homes that use heating oil.”