France Cuts Diesel Prices After Releasing Strategic Reserves
On Saturday, October 31, diesel fuel in France averaged around €2.37 per liter.
Access stations of TotalEnergies already offered a price below average: €2.15 per liter, which is 10 cents lower than at other stations in the group.
The corporation explained that it decided to lower prices "without waiting for the physical delivery of strategic diesel fuel reserves, to allow customers access to these reserves at historical cost."
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The E. Leclerc retail chain follows suit, announcing a price reduction of 21 cents per liter for diesel fuel sold at approximately 742 of its gas stations in France.
According to E. Leclerc, the 21-cent discount will be deducted daily from the price, which will continue to fluctuate based on market quotes.
Another retail chain, Coopérative U, will offer the same price reduction.
The government announced in mid-October that it would release ten million barrels of diesel fuel from strategic reserves. These volumes were purchased before the start of the war in the Middle East and are sold at €0.28 per liter, while the average price in mid-October was €1.10 per liter.
