Fuels: TotalEnergies announces discounts until the end of December

Lhe French gas and oil giant TotalEnergies will apply a pump discount of 20 cents per liter between September and November at all its service stations, then 10 cents per liter for the rest of the year, he announced. Friday in a press release. “From 1^er September to 1^er November, TotalEnergies will lower the price of petroleum fuels sold at stations by 20 cents per liter compared to the prices formed on international market quotations, then by 10 cents per liter from 1^er November to December 31,” the statement read.

This rebate is in addition to the aid of 18 centimes per liter granted by the government to deal with soaring fuel prices. Aid should increase to 12 cents in October and then to 6 cents in November, before disappearing the following month.

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The Minister of the Economy Bruno Le Maire reacted quickly, welcoming TotalEnergies’ decision; it is “a fair decision, a strong decision and a good decision for consumers”, he declared on RMC / BFMTV. “What Total makes is very significant compared to the profits” made in refining in France this year by the group, he added, while TotalEnergies is accused by several elected representatives of the opposition and the majority of to have made “super-profits” with soaring gas and oil prices.

CMA CGM also announces a price reduction

The shipping giant CMA CGM, also targeted by this type of accusations with the rise in container transport costs, also announced on Friday a further drop in its prices. The company published this Friday a new reduction in its prices “to support the purchasing power of French households and the economy”, after a first gesture announced at the end of June. CMA CGM, whose profits have been inflated by the crisis, will reduce its freight rates by 750 euros per 40-foot container to mainland France and overseas territories, instead of the 500 euros initially planned, and extend this reduction to all businesses.

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TotalEnergies had already offered in February a discount of 10 cents per liter in its service stations in rural areas, before expanding the offer to all its stations in April. Bruno Le Maire had called in June to continue, or even to increase the rebate and TotalEnergies had announced in the process to increase it to 12 cents, but by restricting the scope of the measure to its only service stations on the motorway. “Our priority therefore goes to consumers, because we prefer to make an immediate and direct contribution for our customers, rather than an indirect tax which would penalize our refineries”, commented in the press release Patrick Pouyanné, CEO of TotalEnergies. The group ensures that the price reduction will apply “from the first liter purchased, without limit of amount, for all petroleum fuels sold in stations”.