Chief Executive Officer Patrick Pouyanne said the company will keep pushing pump prices lower in France while helping a government program that taps strategic diesel reserves to bring costs down for consumers. After a Monday meeting in Paris with the government and fuel retailers, he said the company "will aim to remain the cheapest retail network in France, maybe even beyond the crisis." He also noted that its French service stations have gained market share thanks to the price cap.
From Nov. 1 through Jan. 31, TotalEnergies will roll out different discounts on diesel and heating fuel for customers like farmers, fishermen, and construction firms. Part of the plan uses government strategic stockpiles, and road diesel will fall by about €0.10 per liter as the company distributes a share of those reserves.
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TotalEnergies has already spent roughly €500 million ($559 million) to hold down prices at its French service stations. This month, the Group of Seven approved the potential release of up to 100 million barrels drawn from emergency reserves of crude and diesel, amid worries that the US could institute a ban on diesel exports. Governments are trying to ease a cost-of-living squeeze as fuel prices rose on interrupted shipments through the Strait of Hormuz and Ukrainian strikes on Russian refineries. With refining margins elevated, Pouyanne said the company may owe about €600 million in corporate profit taxes in France in 2026.
Lower prices at the pump and extra diesel supply could take a bit of pressure off everyday budgets, especially if you drive for work or heat with fuel oil. If TotalEnergies keeps undercutting competitors, that pricing gap might linger even as taxes and geopolitics keep fuel costs bouncing around.
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