“It would be wrong to sink into Total bashing”: Maud Bregeon calls on the oil giant, which has published record profits, to “be exemplary” and continue its price cap

As in every quarter, Totalenergie's stratospheric profits ($8.3 billion between July and September) create controversy. But for Maud Bregeon, the government spokesperson, "it would be wrong to sink into total bashing." On BFMTV-RMC this Thursday, the woman who is also Minister for Energy highlights the positive effects of the fuel price cap applied by Total.

However, she calls on the giant to be “exemplary” in the coming weeks. “We are lucky to have a major oil major in a crisis such as the one we are going through, and in particular to alleviate supply risks. So we ask Total to be exemplary.

We are asking Total to pass on, once again, downwards, the advantage of the release of barrels, to continue its capping as much as necessary, as long as this crisis continues," she declared. Totalenergies once again announced record profits this Thursday, with a profit reaching 7.4 billion euros in the 3rd quarter alone, up 124% compared to the same period last year. In the context of the war on In the Middle East, the giant was driven by the sharp rise in oil prices, but also and above all refined products (fuels) with historic margins in this sector.

“A visible drop at the pump” from “next week” It is from this Saturday that the decree setting the economic conditions for the release of strategic diesel stocks announced at the beginning of October by the government must come into force. The government is counting on a reduction of 12 to 18 cents per liter in the price of diesel, which has oscillated since the beginning of October between 2.30 and 2.40 euros on average, a range confirmed by Maud Bregeon. And to assure that the French will experience “a visible drop at the pump” from “next week” and “we will ensure that all distributors apply it”.

For the smallest and the independents, whose tanks are still full of expensive fuel, Maud Bregeon promises "a cash advance" to allow distributors "to pass on a reduction".

Machine-translated from French