The largest producer of oil in France is set to give consumers a discount at the pump this fall amid government pressure to cut costs for those feeling pain at the pump.
The TotalEnergies discounts on gasoline for September and October will amount to 20 euro cents per liter, or roughly $0.77 per gallon, according to estimates. The discount will be reduced to 10 euro cents per liter, equating to roughly $0.39 per gallon, for November and December.
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“This commitment by TotalEnergies supplements the French government’s measures to provide direct support to French people’s purchasing power. Consumers are therefore our top priority since we prefer to make an immediate and direct contribution to our customers, rather than an indirect tax which would penalize our refineries,” Patrick Pouyanne, CEO of TotalEnergies, said in a statement.
The discounts will be in addition to the 18 euro cent discount the French government already placed on gas. TotalEnergies was already discounting gasoline by 12 euro cents per liter for the month of July through all of August.
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The French government has been pushing TotalEnergies to lower gas prices, holding meetings between company officials and government ministers for months.
The average price of gas in France is nearly $7.50 per gallon, according to some estimates, while the average price of gas in the United States is $4.41, according to the American Automobile Association.
