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Friday, May 27, 2022

France wants to reduce the price of fuel with subsidies by 15 cents per liter

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France wants to offset rising fuel prices with a discount of 15 cents per litre. The subsidy should apply for four months from April 1 and will cost the state around two billion euros, Prime Minister Jean Castex told “Le Parisien” newspaper on Saturday. The measure applies “to all fuels” and should benefit both households and businesses.

Castex explained that the reduction only applies when paying at the checkout or by bank card at the pump and is therefore not immediately visible in the prices displayed at the entrance of the service station. He called on distributors and oil companies to make “an additional gesture” to further reduce fuel prices. These have become “the greatest concern of the French”.

The government in Paris has already taken a series of measures to contain the effects of the months-long increase in energy prices, exacerbated by the Russian invasion of Ukraine: gas prices have been frozen, increases in electricity prices capped at four percent, issued extraordinary energy checks, approved compensation for inflation for 38 million people, and increased mileage allowances.

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