UK and Germany could lower fuel and food prices by cutting biofuels

The G7 group of nations reportedly rejected a proposal from the UK and Germany to lower biofuel production, but the two European nations could still go it alone.

Grain used during a Greenpeace protest earlier this month in Germany against the production of biofuel from food crops

To help ease soaring food and fuel prices after the Russian invasion of Ukraine, the UK and Germany called for a temporary reduction in biofuel production at a meeting of the G7 group of nations on Monday

While this was reportedly rejected by the US and Canada, the UK and Germany could still have a big impact if they decide to unilaterally reduce the amount of biofuels they use