France to release 10 mln barrels of diesel from stocks, French PM says
Prime Minister Sebastien Lecornu said the sale should cut pump prices by 12 to 18 euro cents per liter as winter fuel pressure builds.
- On Wednesday, French Prime Minister Sebastien Lecornu announced the release of 10 million barrels of diesel from strategic stocks to ease energy price surges, lowering pump costs by an estimated 0.12 to 0.18 euros per liter.
- This follows the G7's decision last week to mobilize 100 million barrels of reserves, addressing surging energy prices stemming from the ongoing wars in Iran and Ukraine that have strained European supplies.
- Lecornu seeks to pass a budget slashing around 43 billion euros in spending to reach a 5% deficit by 2027, though skittish bond markets have punished France more harshly than its peers this year.
- Hundreds of French schools will close Thursday amid a nationwide student protest dubbed "semaine noire," or "black week." Students citing years of underinvestment have erected blockades, prompting Police to intervene with tear gas.
- National Rally presidential candidate Marine Le Pen claimed this week her party would reduce the deficit below 3% within 18 months, yet TS Lombard director Davide Oneglia noted markets remain skeptical of such promises.
124 Articles
124 Articles
France is releasing part of the strategic diesel reserve. Farmers should also benefit from it – and that is how it works.
France's government gives off ten million barrels of oil and diesel from state reserves to lower the prices at the pump. Is that stopping the new wave of protest that spreads across the country?
French PM Lecornu Promises €10 Diesel Savings by 1 November; Opposition Calls Plan a 'Scam'
French Prime Minister Sébastien Lecornu says diesel and heating oil prices will fall from 1 November 2026 after government measures and distributor discounts to ease fuel costs.
Tutal Ingergis intends to reduce diesel prices in France by 10 cents (about 11 cents) per litre starting in November, in conjunction with the distribution of strategic reserves, after spending 500 million euros (about $540 million) to curb fuel prices.
On Monday, TotalEnergies committed itself to lowering prices by 8 to 12 cents for motorists, by 20 cents for the GNR.
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