TotalEnergies discounts fuel at French petrol stations as inflation soars

·2 min read
© TotalEnergies

Under pressure from the French government to do more to help consumers tackle higher energy costs, TotalEnergies has announced discounts on pump prices at French motorway petrol stations. The move comes as inflation hit a record high over the month of June.

The French energy group announced this Thursday that it would offer a €0.12 per litre discount on fuel at motorway service stations across France from 1 July 1 to 31 August.

The move will result in an overall discount at TotalEnergies service stations of €0.30 per litre, coming on top of French state discounts of €0.18.

French President Emmanuel Macron's government has been urging TotalEnergies to do more to help people to contend with rising energy bills as prices have soared since Russia's invasion of Ukraine.

"For several months now, rising energy costs have been pushing up fuel prices and weighing on people’s purchasing power in France, particularly those with the least to spend, for whom a car is indispensable for getting around," TotalEnergies said.

"In response, TotalEnergies is once again making a commitment to its customers in France with this summer discount, which is expected to reach about 17 million people."

Inflation hits record high

This comes as French inflation climbed further from the previous month to a record high of 6.5 percent, according to official preliminary figures released on Thursday, adding further pressure to the euro zone's second-biggest economy.

The INSEE statistics agency said prices in June had risen by 0.8 per cent from May, and that 12-month June preliminary inflation stood at 6.5 percent.

INSEE said food and energy prices had risen sharply due to disruption resulting from Russia's invasion of Ukraine, with consumer prices having risen by 5.8 percent.

Macron's government is under pressure as a result of the higher living costs, while the European Central Bank has flagged it will raise rates in July and September to try and tackle the rising inflation.

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