TotalEnergies will maintain its fuel price cap at its service stations as long as the conflict in the Middle East continues. The group currently applies a limit of €1,99 per liter for gasoline and €2,25 for diesel, particularly on highways and in rural areas.
This measure comes as average prices remain above two euros in France. As of August 29, a liter of SP95-E10 reached 2,035 euros, compared to 2,129 euros for SP98 and 2,219 euros for diesel. The scheme has already cost TotalEnergies between 250 and 300 million euros, according to its CEO, Patrick Pouyanné.
The group is threatening to abandon the device permanently.
Customer traffic at the group's service stations has reportedly increased since the price cap was introduced. TotalEnergies estimates it now holds approximately 25% of the French market, compared to its usual 22%. However, this increase does not offset the cost of the measure, as fuels are being sold below their international market-determined price.
Patrick Pouyanné warns that a European tax on energy super-profits would lead to the definitive abandonment of this type of cap. TotalEnergies should nevertheless be affected by the exceptional tax on the profits of large companies if it is renewed in the 2027 budget, as the group plans to pay corporate tax in France this year.
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