Croatia's government on Thursday decided to release 32,000 tons of diesel fuel and other oil-based products from the national reserve and put it on the open market, state agency Hina said, citing a televised cabinet meeting.

Some 12,000 tons of diesel fuel would be released by the end of April, plus another 20,000 tons in May.

Economy Minister, Tomislav Coric, told his colleagues in a televised cabinet meeting that the International Energy Agency (IEA) held a meeting on 1 April when agreement was reached to release 120 million tons of stockpiled oil in order to ensure that there would be no shortages related to the Russian invasion of Ukraine and the ensuing sanctions.

The decision Coric was talking about probably referred to reserves controlled by its member countries. The organization includes 31 countries who are all also members of OECD. Croatia is not a member of either clubs.

However, Croatia will contribute to this globally coordinated plan and will put 32,000 tons of diesel fuel on the market. Coric recalled that this year Croatia had already released 22,000 tons of diesel, equivalent to 164,000 barrels, from the state-run reserves onto the market.

Hina did not say how much diesel is held by the national reserves, nor the effect this amount might have on the total diesel consumption on the local market or the increasing fuel prices.