Patrick Pouyanné appeared before the National Assembly's Finance Committee on Wednesday, June 17, to answer questions about fuel prices. The CEO of TotalEnergies confirmed that his group was indeed passing on the drop in oil prices at its service stations, while cautioning that this reduction would not be immediate. The hearing comes as French motorists have been scrutinizing every price movement at the pump for several months.
A gradual decrease promised
The executive promised a return to pre-war prices, without specifying a precise timeframe. This statement aims to reassure consumers who have noticed a discrepancy between global price fluctuations and the prices displayed at service stations. Patrick Pouyanné emphasized that passing on the price reductions necessarily takes time, due to pricing mechanisms and supply delays.
Transmission times called into question
Members of Parliament are seeking to understand why drops in crude oil prices are not immediately reflected in pump prices, while increases seem to be passed on more quickly. TotalEnergies defends its pricing policy by highlighting the complexity of the distribution chain and the numerous factors that influence the final price of fuel sold to individuals.
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