The key facts

  • The average diesel price in France on October 31 was about 2.37 euros per liter; TotalEnergies sells at 2.15 euros at Access stations.
  • E. Leclerc is cutting the price by 21 euro cents at about 742 stations, and Coopérative U has announced the same reduction.
  • 10 million barrels of diesel are being sold from the reserves at 0.28 euros per liter, against an average price of 1.1 euros in mid-October.

Price cuts following the reserves decision

In mid-October, the French government announced the release of ten million barrels of diesel fuel from strategic reserves. These volumes were purchased before the start of the war in the Middle East and are being sold at 0.28 euros per liter, while the average price in mid-October was 1.1 euros per liter. Euronews reports this.

Retail reaction

By Saturday, October 31, diesel in France was selling on average at about 2.37 euros per liter. TotalEnergies' Access stations were already offering 2.15 euros per liter — 10 euro cents less than at other stations of the group. The corporation explained that it lowered prices 'without waiting for the physical delivery of strategic diesel fuel reserves' so that customers could access these reserves at their historical cost.

Retail discounts and the mechanism

The E. Leclerc chain announced a price reduction of 21 euro cents per liter at about 742 of its stations in France: according to the chain, the discount will be deducted from the price daily, which, as before, will fluctuate depending on market quotations. A similar reduction was announced by the Coopérative U retail chain.