Fuel price drop begins at 6,000 gas stations after release of strategic reserves, government says
The average reduction is 12 cents per litre at the affected stations, according to the Minister of Commerce. In the long run, all 10,000 gas stations in the territory will be affected, the government said.
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“Little by little, it is the 10,000 stations that will lower their prices,” assured the Minister of Commerce. Diesel prices began to fall in 6,000 French service stations, by 12 cents on average, after strategic stocks were placed on the market, declared Serge Papin on Tuesday, November 3, during a press point in Bercy with the Minister of the Economy, Roland Lescure, following a meeting with fuel distributors. Of these 6,000 stations, 4,000 have lowered their prices "by more than 15 cents", he added.
In October, the French government announced that it would sell at cost price to distributors 10 million barrels of diesel from strategic stocks for three months, from November to January, in order to lower prices at the pump, to historically high levels since the start of the conflict in the Middle East. This clearance began on Sunday November 1st. This is “the first time that strategic stocks have been used to lower prices.
Usually, it was to resolve shortage problems", underlined Serge Papin. The system "concerns all 10,000 service stations in France, mainland France, Corsica, Overseas. All service stations are affected,” said Roland Lescure.
A system to allow small independent distributors to pass on the reductionAs for "small independent distributors whose tanks are full", and "who will undoubtedly take a little more time before passing on these reductions", the Minister of the Economy and Finance reported the establishment of "a specific system for their destination, a zero-interest loan, which allows them to manage their cash flow if they wish to be able to pass on this reduction upstream". The government has "planned to provide a complete update at the end of the week and we will obviously be extremely transparent on all the figures", he promised again. Roland Lescure praised an “innovative system which directly benefits our fellow citizens, which does not cost the State a penny at these times when obviously the budget deficit is a significant constraint”.
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- Franceinfo3 Nov, 13:47
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