The last 100 million barrels of a plan to cool fuel prices get the green light

What happened

The International Energy Agency said its member countries agreed to complete the release of 100 million barrels of oil, Bloomberg reported. Those barrels were still outstanding from an intervention in March that was meant to cool high fuel prices. The agreement commits them to finish a step that was still pending.

Why it matters

Gasoline is one of the prices you feel most directly, whether you drive or take a ride app, and fuel also moves the cost of shipping food to the supermarket. As a general rule, more oil supply on the market tends to push against high prices, and expensive fuel feeds inflation, which is what central banks watch when they set interest rates. For a student in Mexico or Canada, that chain ends in what you pay for a tank, a bus pass and groceries.