This Wednesday, February 8, 2023, TotalEnergies announced results for 2022 with a record profit of 20.5 billion US dollars, or the equivalent of 19.5 billion euros. TotalEnergies is the second largest producer of LNG (liquefied natural gas) in the world and the business was very profitable last year.

In this context, the French group said it was “ready to consider” a new discount on fuel prices at the pump, even though the amount and terms of such a discount have yet to be determined, according to the oil group’s CEO, Patrick Poignant: “We are ready to consider a new discount”he told AFP.

TotalEnergies: fuel price discount

This announcement was welcomed by the French government: “I have heard that Total wants to set a discount and we welcome it”said government spokesman Olivier Veran at the end of the meeting of the Council of Ministers: “We are fully prepared to support this announcement from TotalEnergies. We hope that we will be able to do everything possible to reduce the cost of fuel at gas stations for the French.”he added.

This is not the first time that TotalEnergies has provided grants discounts for French consumers on the price of fuel: in fact, several months ago, between September and December 2022, the oil giant’s chain applied discounts to the price paid at gas stations to cope with the sharp increase in oil prices.

“We have returned €550 million to French motorists through various discounts at petrol stations over several weeks. We haven’t done that anywhere else.”the group’s CEO told daily Le Parisien: “If a liter of diesel fuel exceeds two euros, TotalEnergies can carry out new targeted discounts at the pump”.

Fuel prices are rising again

Since the expiration of the government discount of 30 centimes per liter of fuel prices, which expired on 1^Er January 2023, fuel costs are risingand it is felt on the budget of French motorists.

Indeed, according to the latest data from the Ministry of Energy, at the beginning of February 2023, the price of a liter of unleaded gasoline (SP95) in our countries was on average 1.9299 euros. The price of the SP95-E10 was €1.8996, while a liter of diesel (diesel) in France was on average €1.8873.

But since the entry into force last Sunday, a new one embargo against Russian dieselIn the context of the Ukrainian conflict, additional tension is hovering around the supply of diesel fuel in the world: the price of a liter of diesel fuel at gas stations can rise again very quickly.

Sources: AFP, Reuters, Le Parisien