Total announces year-round price caps for some fuel at its gas stations

Total Energy Group (TotalEnergies) announced on February 22 that the group's 3,400 gas stations in France will limit the price of 95 unleaded gasoline and diesel, and the price of these two fuels will not exceed 1.99 euros per liter throughout the year. Premium diesel and 98 unleaded gasoline are not included in the price limit.

From February 25th, gas stations under the Total Energy Group on expressways will implement this price limit policy, and Total gas stations outside expressways will implement this price limit policy from March 1st. There are a total of 10,000 gas stations in France, and Total Energy Group gas stations account for about one-third of them.

The Total Group stated that "the introduction of price caps is to protect customers in the case of high inflation."

The Total Group will make a profit of 20.5 billion euros in 2022. On February 21, Macron asked the group to make a certain "posture" in the face of soaring inflation.

From September to December 2022, the gas stations of Total Energy Group have successively provided refueling drivers with discounts of 0.2 euros and 0.1 euros per liter of fuel (involving all gasoline and diesel), for which they paid a total of 550 million euros the cost of.

At present, the price of automobile fuel at gas stations in France is significantly lower than the symbolic 2 euros per liter, but the European Union has imposed an embargo on diesel produced in Russia since early February, which may push up fuel prices. The price of a liter of diesel in France last week averaged 1.8382 euros, and the average price of a liter of 95-E10 unleaded gasoline was 1.8776 euros.