Petrol and diesel will remain under €1.99/l in all TotalEnergies service stations until 2024, the French oil company giant has announced in a statement.
It had committed to the price ceiling in February 2023.
While the price of petrol has fluctuated over the past year, the overall trend has been for prices to decrease from the highs of June 2022, when they reached €2.13/l.
However, the sharp increase in petrol and diesel prices since July has caused alarm among motorists.
‘Petrol producers were worried’
“This summer the price of unleaded has gone up by 12 cents and diesel by 15,” said Olivier Gantois, President of the French Association of Petroleum Industry.
“In spring, the price per barrel was falling close to $75 and both OPEC and Russia were worried,” he told the French media actu.fr.
However, Mr Gantois suggests that the increases should stabilise. “It’s likely that the price per barrel remains in the same price range it has been in for a while now,” he said, “But there is no indication that prices will decrease in September.”
Total to open new service stations
In addition to the price cap, TotalEnergies also announced that it will open 20 new stations in rural areas.
“The new rural stations will maintain proximity with our customers and safeguard the development of rural areas for the essential services that are the lifeblood of our communes.”
The new petrol stations will open in Aisne (02), Alpes de Haute-Provence (04), Ardèche (07), Bouches-du-Rhône (13), Calvados (14), Eure (27), Indre-et-Loire (37), Loiret (45), Lot (46), Lot-et-Garonne (47), Marne (51), Saône-et-Loire (71), Sarthe (72), Savoie (73), Seine-Maritime (76) and Yonne (89).
The group currently has 1,150 stations in France, operating under the TotalEnergies and Elan brands.