The government is hoping for 12 to 18 cents less per liter of diesel: distributors will have to “clearly” display the drop in prices obtained thanks to the destocking of strategic reserves
The government announced in mid-October a destocking of strategic diesel reserves in order to lower prices at the pump.
Fuel distributors will have to indicate "clearly through a visible display" the amount of the drop in the price of diesel linked to the destocking of strategic reserves decided in mid-October by the government, according to a decree published this Thursday in the Official Journal. “The consumer is clearly informed by a visible, readable and easily accessible display in the area of the service station” of the amount of the price reduction, indicates the decree dated October 26 and published this Thursday. The amount of the price reduction must be "at least equal to the amount excluding taxes of the benefit passed on relative to the sales volume to which it is attributed, increased by the taxes applicable to it", indicates the official text.
France announced on October 12 to make ten million barrels of diesel from its strategic stocks available to distributors, in proportion to their 2025 market share, in the hope of reducing the price of a liter at the pump by 12 to 18 cents. Stocks sold to distributors almost 4 times cheaper than the market price In the process, the oil and gas giant Totalenergies, which capped its prices at service stations, committed to lowering the price of a liter of diesel for individuals by 8 to 12 cents and that of a liter of non-road diesel (GNR) by 20 cents, after destocking. The measure announced by the government also concerns non-road diesel (NGR) used by farmers, fishermen or the construction industry, but not gasoline.
The operation, which should last until the end of January, plans to sell to distributors these stocks purchased before the war in the Middle East at 0.28 euros per liter, significantly less than the current market price, which was around 1.10 euros per liter in mid-October, according to Matignon. These strategic stocks, which amount to around 100 million barrels of hydrocarbons, around half of which are diesel, are kept for extreme situations. French diesel consumption over three months stood at 54 million barrels, Matignon declared in mid-October.
But the very high diesel prices currently in force are leading to a destruction of demand, with the CEO of France's fourth largest food distributor, Coopérative U, Dominique Schelcher, calling fuel consumption in October a "real collapse" on Tuesday. On Thursday, the average price of diesel was around 2.38 euros per liter, according to an AFP calculation based on feedback from more than 8,800 stations.
The average price per liter of SP95-E10 was 2.11 euros on Thursday.
Machine-translated from French
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- BFM Business29 Oct, 11:41
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