The Minister of Economy and Finance Bruno Le Maire indicated on Wednesday on RTL that he had spoken with the CEO of the hydrocarbon giant Patrick Pouyanné, who “made a commitment to maintain this cap at 1.99 on all fuels , for the whole year 2024”, and “in all stations”.
“I welcome this commitment because it is a real protection,” said the minister, adding that “a nation advances when everyone collectively makes an effort.”
Contacted, the TotalEnergies group did not wish to comment on these statements, referring to its previous announcements of September 12: it had then committed to extending the cap “beyond the end of 2023, as long as prices remain high”.
“Why did we decide this? We decided it because frankly, at a given moment, we also have to reconcile our company with public opinion”, declared Tuesday on this subject Patrick Pouyanné, who spoke in London , at the Energy Intelligence Forum.
In recent days, the leader had threatened to stop the measure if taxes on refineries were renewed.
Finally, the government did not retain in the “revenue” section of its draft budget the amendments proposing to extend an exceptional tax on refiners, noted Wednesday evening AFP in the table summarizing the amendments retained within the framework of the procedure of article 49.3.
This measure of taxing the margins of refiners – including TotalEnergies – was considered by parliamentarians in the 2024 draft budget currently under discussion in the National Assembly.
“We had a debate last week regarding taxing refineries. I said to the government: ‘look, if you tax refineries, why should I directly support the public through my fuel cap? What do you prefer? ? In the end, they chose that we had to continue with the capping (…) rather than taxing the refineries. Because we act directly for their citizens. It’s more important, I think,” declared the CEO of an oil group in London.
Tight oil market
For the moment, prices at the pump continue to decline for the 4th consecutive week, despite a feverish oil market since the start of the war triggered on October 7 by the Hamas assault on southern Israel.
Today the average prices recorded in France are even below the TotalEnergies ceiling. The group specifies that in its 3,400 stations in France, “around 2,000 are capped”, that is to say that they have one or more capped fuels “mainly on the Excellium ranges (SP98, Diesel Excellium), products more expensive than Super Unleaded 95 or classic diesel.
Last week, SP95-E10 gasoline at gas stations of all brands was sold on average for 1.81 euros per liter (down 4.7 cents compared to the previous week) and diesel cost 1.85 euro per liter (-4.4 cts), according to weekly figures from the Ministry of Energy Transition, stopped on Friday and published on Monday. But what happens next is uncertain.
Bruno Le Maire estimated that future prices of oil and therefore fuel would depend “on what is happening in the Middle East: if the crisis remains local, the consequences will be local. Today they are limited. If tomorrow there is “As the conflict spreads in the region, the consequences will be much heavier on energy prices,” warned the minister.
Internationally, oil prices have been supported in recent days by fears that the war between Israel and Hamas might spread to neighboring countries.
Markets “will remain on alert as the crisis evolves,” the International Energy Agency (IEA) warned last Thursday.
