Further reduction from the government possible
The high fuel prices are only slowly falling along with the falling oil prices. This is partly due to oil companies, which are not eager to lower prices. In France, TotalEnergies is breaking with that trend.
Oil prices are falling, but things are not going so fast at the pump. This is partly due to the weakening euro against the dollar, but also because oil companies prefer not to cut fuel prices too quickly. For example, market expert Paul van Selms of United Consumers argued last month that airlines think consumers have become accustomed to high petrol and diesel prices. “So why be in a rush to lower prices?”
However, TotalEnergies will further reduce fuel prices in its home country France. TotalEnergies previously gave in to political pressure to lower prices in the summer period. At the time, the company said it would deduct 12 cents per liter from the price for petrol and diesel at gas stations along the highway. In September and October, the French oil and gas group gives a discount of 20 cents per liter at filling stations in its own country. In November and December this will be a discount of 10 cents per litre.
Finance Minister Bruno Le Maire welcomed TotalEnergies’ new decision. He also stated that the French government is open to further reducing excise duties on fuels.
– Thanks for information from Autoweek.nl