French energy giant cuts petrol prices

TotalEnergies will reduce $ 0.13 per liter of gasoline and diesel at its highway gas stations for 2 months.

French oil company TotalEnergies today announced to reduce the price of petrol at its stations by 0.12 euros ($0.13) a liter. This applies at stations at highways, from July 1 to August 31.

Plus the current French government subsidy of 0.18 euros a liter, the total reduction at TotalEnergies gas stations is 0.3 euros a liter. TotalEnergies admits that the energy market is “stressed” due to Russia’s military campaign in Ukraine.

TotalEnergies says the reduction equates to a savings of 15 euros per 50-litre tank. In Europe, family cars usually have a 55-litre fuel tank.

“Over the past few months, rising fuel costs have pushed up gasoline prices, putting pressure on French consumers, especially those who are not well-off,” TotalEnergies said. “Therefore TotalEnergies is committed once again. Connect with French customers about this summer sale, which is expected to reach 17 million people”.

The administration of French President Emmanuel Macron is pressuring TotalEnergies to support households as soaring inflation drives up prices for everything from food to fuel. Thanks to soaring oil and gas prices, profits for TotalEnergies, as well as other petroleum giants, surged last quarter.

Last weekend, the leaders of major French energy firms, Engie, EDF and TotalEnergies also urged families and businesses to reduce fuel consumption as Russia squeezed gas supplies with Europe. They say this is important to prepare for the coming energy crisis.

Ha Thu (according to CNBC)


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