Energy, Automobile, EV, Renewable News | TotalEnergies commits to a large-scale fuel price reduction in France

TotalEnergies commits to a large-scale fuel price reduction in France

July 22, 2022

From September 1 to November 1, TotalEnergies will lower its petroleum fuel prices sold in service stations by €0.20/litre compared to global market quotation prices, followed by a €0.10/litre reduction from November 1 to 31 December.

“This commitment by TotalEnergies supplements the French government’s measures to provide direct support to French people’s purchasing power. Consumers are therefore our top priority since we prefer to make an immediate and direct contribution to our customers, rather than an indirect tax which would penalise our refineries. Indeed, our refineries in France form industrial infrastructure that contributes to the country’s energy security, directly employing nearly 5,000 staff, and receiving our investment of several hundred million euros to guarantee both their modernisation – in the case of Donges – and their transformation – as with Grandpuits. These refineries faced losses of more than €1 billion during Covid in 2020 and 2021, for which TotalEnergies did not request any government support and which are more than offset by the current favourable environment”, commented Patrick Pouyanné, Chairman and CEO of TotalEnergies. “With this large-scale price reduction programme in our service stations, we are hopeful that this long-term commitment will be recognised both by our customers and at the national level.”

These price reductions, which complement the government’s own measures, will apply from the first litre purchased, with no limit on amounts, for all petroleum fuel sold in service stations.

Information Source: Read More