Le Maire Encourages TotalEnergies to Sustain Fuel Price Ceiling

08 Sep, 2023

Le Maire Encourages TotalEnergies to Sustain Fuel Price Ceiling

French Finance Minister Bruno Le Maire has expressed his desire for the French oil giant TotalEnergies to continue capping fuel prices beyond December 31st. He emphasized that his top priority was to accelerate the fight against inflation. Le Maire also noted that while French inflation was showing some signs of easing, it was not happening at a pace he considered fast enough.

Speaking on Franceinfo radio, Le Maire acknowledged that the final decision rested with TotalEnergies CEO Patrick Pouyanne. However, he commended Total for its recent choices and expressed confidence in Pouyanne's ability to take into account the challenges faced by the French population.

Patrick Pouyanne had previously announced that TotalEnergies would extend the cap on fuel prices at 1.99 euros per liter until the end of the current year. He also indicated the possibility of considering an extension of this measure into 2024, stating, "This measure will be in effect until the end of the year. We will assess the situation for 2024."